$PTEN
PATTERSON UTI ENERGY INC

2019 Q4 Form 10-K Financial Statement

#000156459020004584 Filed on February 13, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $492.3M $795.9M $867.5M
YoY Change -38.15% 1.09% 26.64%
Cost Of Revenue $363.5M $557.7M $634.1M
YoY Change -34.82% -1.59% 28.57%
Gross Profit $128.8M $238.3M $233.4M
YoY Change -45.95% 7.97% 21.69%
Gross Profit Margin 26.16% 29.94% 26.91%
Selling, General & Admin $33.90M $32.80M $32.82M
YoY Change 3.35% -8.89% 18.91%
% of Gross Profit 26.32% 13.76% 14.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.0M $212.4M $281.6M
YoY Change -15.25% 0.62% 43.16%
% of Gross Profit 139.75% 89.13% 120.65%
Operating Expenses $211.6M $237.9M $32.82M
YoY Change -11.06% 1.84% -85.11%
Operating Profit -$82.76M -$210.8M -$80.28M
YoY Change -60.74% 873.76% 111.18%
Interest Expense -$26.70M -$11.90M $12.38M
YoY Change 124.37% 21.43% -230.27%
% of Operating Profit
Other Income/Expense, Net $100.0K $100.0K -$11.28M
YoY Change 0.0% 0.0% -11378.0%
Pretax Income -$109.4M -$222.6M -$91.56M
YoY Change -50.85% 608.92% 93.16%
Income Tax -$23.40M -$21.40M -$16.52M
% Of Pretax Income
Net Earnings -$85.92M -$201.2M -$75.04M
YoY Change -57.31% -202.99% 122.22%
Net Earnings / Revenue -17.45% -25.28% -8.65%
Basic Earnings Per Share -$0.44 -$0.93 -$0.34
Diluted Earnings Per Share -$0.44 -$0.93 -$0.34
COMMON SHARES
Basic Shares Outstanding 194.5M 217.4M 218.1M
Diluted Shares Outstanding 218.1M

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $174.2M $245.0M $214.0M
YoY Change -28.9% 472.43% 466.14%
Cash & Equivalents $174.2M $245.0M $214.0M
Short-Term Investments
Other Short-Term Assets $75.18M $76.66M $75.00M
YoY Change -1.94% 43.56% 37.36%
Inventory $36.36M $65.58M $69.40M
Prepaid Expenses
Receivables $339.7M $558.8M $648.4M
Other Receivables $6.400M $4.100M $0.00
Total Short-Term Assets $631.8M $950.2M $1.007B
YoY Change -33.51% 27.22% 48.43%
LONG-TERM ASSETS
Property, Plant & Equipment $3.307B $4.003B $4.081B
YoY Change -17.39% -5.93% -2.8%
Goodwill $395.1M $410.8M $612.5M
YoY Change -3.82% -32.83% 16.73%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.78M $27.44M $50.90M
YoY Change -35.21% -45.09% -18.82%
Total Long-Term Assets $3.808B $4.520B $4.813B
YoY Change -15.75% -9.82% 0.38%
TOTAL ASSETS
Total Short-Term Assets $631.8M $950.2M $1.007B
Total Long-Term Assets $3.808B $4.520B $4.813B
Total Assets $4.440B $5.470B $5.820B
YoY Change -18.84% -5.02% 6.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.5M $289.0M $349.2M
YoY Change -41.0% -9.59% 15.06%
Accrued Expenses $219.9M $235.9M $256.4M
YoY Change -6.82% 4.11% 4.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $400.6M $526.3M $607.7M
YoY Change -23.89% -3.65% 10.63%
LONG-TERM LIABILITIES
Long-Term Debt $966.5M $1.119B $1.119B
YoY Change -13.64% 86.91% 50.67%
Other Long-Term Liabilities $9.250M $12.76M $12.90M
YoY Change -27.51% 2.14% 13.16%
Total Long-Term Liabilities $975.8M $1.132B $1.132B
YoY Change -13.8% 85.18% 50.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $400.6M $526.3M $607.7M
Total Long-Term Liabilities $975.8M $1.132B $1.132B
Total Liabilities $1.606B $1.964B $2.065B
YoY Change -18.25% 10.59% 9.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.295B $1.754B
YoY Change -26.16% -16.73%
Common Stock $2.878B $2.830B
YoY Change 1.72% 1.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.345B $1.080B
YoY Change 24.5% 17.6%
Treasury Stock Shares $77.34M $53.70M $49.88M
Shareholders Equity $2.834B $3.505B $3.755B
YoY Change
Total Liabilities & Shareholders Equity $4.440B $5.470B $5.820B
YoY Change -18.84% -5.02% 6.34%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$85.92M -$201.2M -$75.04M
YoY Change -57.31% -202.99% 122.22%
Depreciation, Depletion And Amortization $180.0M $212.4M $281.6M
YoY Change -15.25% 0.62% 43.16%
Cash From Operating Activities $112.4M $242.0M $188.5M
YoY Change -53.55% 42.86% 62.64%
INVESTING ACTIVITIES
Capital Expenditures -$64.20M -$160.9M $162.8M
YoY Change -60.1% -32.17% 13.79%
Acquisitions
YoY Change
Other Investing Activities $13.30M $8.900M $7.000M
YoY Change 49.44% -119.14% 218.18%
Cash From Investing Activities -$50.90M -$152.0M -$155.8M
YoY Change -66.51% -46.42% 10.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.00M -58.70M -60.60M
YoY Change -11.41% -149.04% -379.26%
NET CHANGE
Cash From Operating Activities 112.4M 242.0M 188.5M
Cash From Investing Activities -50.90M -152.0M -155.8M
Cash From Financing Activities -52.00M -58.70M -60.60M
Net Change In Cash 9.500M 31.30M -27.90M
YoY Change -69.65% 479.63% 745.45%
FREE CASH FLOW
Cash From Operating Activities $112.4M $242.0M $188.5M
Capital Expenditures -$64.20M -$160.9M $162.8M
Free Cash Flow $176.6M $402.9M $25.72M
YoY Change -56.17% -0.91% -194.68%

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CY2019 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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501954000
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16315000
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496969000
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347512000
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CY2019 pten Proceeds From Disposal Of Assets And Insurance Claims
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45761000
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1012000
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3947000
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15000000
CY2017 pten Increase Decrease In Payables Related To Purchases Of Property And Equipment
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17228000
CY2018 pten Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued Value
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2932000
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1226890000
CY2018 pten Net Decrease Increase In Deposits On Equipment Purchases
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4311000
CY2017 pten Net Decrease Increase In Deposits On Equipment Purchases
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CY2019 pten Cashless Exercise Of Stock Options
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9219000
CY2019 pten Repayments Of Long Term Debt Excluding Borrowings Under Revolving Credit Facility
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673443000
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347000000
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485000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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39000000.0
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35600000
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2200000
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1000000.0
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4300000
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74500000
CY2017 us-gaap Business Acquisitions Pro Forma Revenue
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2738579000
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17722000
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18197000
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21764000
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1003873000
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783341000
CY2017Q4 us-gaap Goodwill
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1000000
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211129000
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17800000
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19273000
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20.62
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4736150
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20.63
CY2019 pten Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value Of Options Vested
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543000
CY2018 pten Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value Of Options Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantDateFairValueOfOptionsVested
1954000
CY2017 pten Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value Of Options Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantDateFairValueOfOptionsVested
4565000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
209000
CY2019Q4 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10200000
CY2019Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P58M
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
10944000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
440000
CY2019 us-gaap Lease Cost
LeaseCost
11384000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
10033000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10870000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11212000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8484000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6220000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3955000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3055000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7883000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40809000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4230000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
36579000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-1976000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-3954000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-42000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-90441000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-35081000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-335106000
CY2019 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-92417000
CY2018 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-39035000
CY2017 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-335148000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
851000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1704000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-215000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11593000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11147000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
4511000
CY2019 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-10742000
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-9443000
CY2017 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
4296000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-348000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-2552000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-3108000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1168000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
5043000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
249000
CY2019 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-1516000
CY2018 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
2491000
CY2017 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-2859000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-1473000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-4802000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-3365000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-103202000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-41185000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-330346000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-104675000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-45987000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-333711000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-499900000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-343100000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-312900000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-30500000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-24300000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-14900000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.017
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.019
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
-0.007
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
-0.069
CY2019 pten Effective Income Tax Rate Reconciliation
EffectiveIncomeTaxRateReconciliation
-0.005
CY2018 pten Effective Income Tax Rate Reconciliation
EffectiveIncomeTaxRateReconciliation
-0.006
CY2017 pten Effective Income Tax Rate Reconciliation
EffectiveIncomeTaxRateReconciliation
-0.013
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.013
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.667
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.007
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.001
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.036
CY2017 pten Effective Income Tax Rate Reconciliation Acquisition Related Differences
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedDifferences
-0.033
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.008
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.037
CY2019 pten Effective Income Tax Rate Reconciliation State Deferred Tax Remeasurement
EffectiveIncomeTaxRateReconciliationStateDeferredTaxRemeasurement
-0.011
CY2018 pten Effective Income Tax Rate Reconciliation State Deferred Tax Remeasurement
EffectiveIncomeTaxRateReconciliationStateDeferredTaxRemeasurement
0.023
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.008
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.006
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.008
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.018
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
-0.069
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
-0.007
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.037
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.008
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
375308000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
324389000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
4138000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
6404000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
10561000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13375000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
19536000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
19900000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
21698000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
22423000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
431241000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
386491000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17231000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
13232000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
414010000
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
373259000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
607785000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
669196000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
9184000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
10224000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
616969000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
679420000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
202959000
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
306161000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
1400000000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
47400000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
847000000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-425703000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-321421000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
5910000
CY2017 pten Income Loss From Continuing Operations Allocable To Non Vested Restricted Shares
IncomeLossFromContinuingOperationsAllocableToNonVestedRestrictedShares
-170000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-425703000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-321421000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5740000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203039000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218643000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198447000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-425703000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-321421000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5740000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203039000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218643000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198447000
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1435000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
203039000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218643000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
199882000
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.10
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.47
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9195000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9762000
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3289000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
13200000
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
14300000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
8700000
CY2019 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2470685000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3326997000
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2356684000
CY2019 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2305000
CY2018 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
17569000
CY2017 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
31957000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5683000
CY2019 us-gaap Investment Income Interest
InvestmentIncomeInterest
6013000
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
5597000
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
1866000
CY2019 us-gaap Interest Expense
InterestExpense
75204000
CY2018 us-gaap Interest Expense
InterestExpense
51578000
CY2017 us-gaap Interest Expense
InterestExpense
37472000
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
389000
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
750000
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
343000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-530378000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-367408000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-327801000
CY2019 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
1003873000
CY2018 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
916318000
CY2017 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
783341000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
347512000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
641458000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
567087000
CY2019Q4 us-gaap Assets
Assets
4439615000
CY2018Q4 us-gaap Assets
Assets
5469866000
CY2017Q4 us-gaap Assets
Assets
5758856000
CY2019Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
1250000
CY2018Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
750000
CY2019Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
179375000
CY2018Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
229132000
CY2019Q4 us-gaap Foreign Financial Institutions Actual Deposits
ForeignFinancialInstitutionsActualDeposits
2309000
CY2018Q4 us-gaap Foreign Financial Institutions Actual Deposits
ForeignFinancialInstitutionsActualDeposits
22698000
CY2019Q4 pten Cash And Cash Equivalents
CashAndCashEquivalents
182934000
CY2018Q4 pten Cash And Cash Equivalents
CashAndCashEquivalents
252580000
CY2019Q4 pten Bank Checks Outstanding And Other Reconciling Items
BankChecksOutstandingAndOtherReconcilingItems
8749000
CY2018Q4 pten Bank Checks Outstanding And Other Reconciling Items
BankChecksOutstandingAndOtherReconcilingItems
7551000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174185000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
245029000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5700000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
704171000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
675765000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
598452000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
492297000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-23383000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-48125000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-307305000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-82763000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-28614000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-49447000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-261719000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-85923000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.31
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
809164000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
854418000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
867478000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
795937000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-22102000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9004000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-80281000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-210790000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-34417000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-10713000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-75042000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-201249000
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.93

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