$VNOM
Viper Energy Inc

2016 Q3 Form 10-Q Financial Statement

#000160206516000061 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $20.00M $17.03M $19.62M
YoY Change 6.5% -13.19% 13.74%
Cost Of Revenue $1.430M $1.400M $1.420M
YoY Change -15.38% -1.41% 2.16%
Gross Profit $18.57M $15.63M $18.20M
YoY Change 8.66% -14.12% 14.75%
Gross Profit Margin 92.86% 91.77% 92.77%
Selling, General & Admin $1.220M $1.300M $1.310M
YoY Change -32.6% -0.76% 336.67%
% of Gross Profit 6.57% 8.32% 7.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.800M $6.500M $9.000M
YoY Change -21.84% -27.78% 50.0%
% of Gross Profit 36.62% 41.59% 49.45%
Operating Expenses $9.403M $30.74M $11.67M
YoY Change -23.13% 163.37% 83.54%
Operating Profit $10.59M -$13.71M $7.946M
YoY Change 61.86% -272.55% -16.32%
Interest Expense $658.0K $456.0K $207.0K
YoY Change 83.8% 120.29% -103.84%
% of Operating Profit 6.21% 2.61%
Other Income/Expense, Net -$392.0K -$309.0K $99.00K
YoY Change 106.32% -412.12%
Pretax Income $10.20M -$14.02M $8.050M
YoY Change 60.38% -274.16% 95.86%
Income Tax
% Of Pretax Income
Net Earnings $10.20M -$14.02M $8.050M
YoY Change 60.38% -274.16% 95.86%
Net Earnings / Revenue 51.01% -82.32% 41.03%
Basic Earnings Per Share
Diluted Earnings Per Share $120.0K -$175.8K $101.0K
COMMON SHARES
Basic Shares Outstanding 86.74M shares 79.73M shares 79.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.800M $6.100M $10.00M
YoY Change 56.0% -39.0% 42.86%
Cash & Equivalents $7.758M $6.144M $9.988M
Short-Term Investments
Other Short-Term Assets $93.00K $130.0K $467.0K
YoY Change -79.47% -72.16% 2818.75%
Inventory
Prepaid Expenses
Receivables $9.918M $8.000M $9.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $18.27M $14.73M $20.86M
YoY Change 10.72% -29.4% 46.75%
LONG-TERM ASSETS
Property, Plant & Equipment $552.2M $432.5M $460.4M
YoY Change 14.11% -6.06% 5.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.90M $35.35M $35.18M
YoY Change -2.7% 0.49%
Total Long-Term Assets $587.1M $467.9M $495.5M
YoY Change 12.95% -5.59% 13.53%
TOTAL ASSETS
Total Short-Term Assets $18.27M $14.73M $20.86M
Total Long-Term Assets $587.1M $467.9M $495.5M
Total Assets $605.4M $482.6M $516.4M
YoY Change 12.88% -6.55% 14.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.00K $23.00K $0.00
YoY Change -100.0%
Accrued Expenses $1.800M $1.400M $1.100M
YoY Change -14.29% 27.27% -21.43%
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 $1.790M $1.415M $1.105M
YoY Change -14.92% 28.05% -92.12%
LONG-TERM LIABILITIES
Long-Term Debt $54.50M $51.50M $0.00
YoY Change 87.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $54.50M $51.50M $0.00
YoY Change 87.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.790M $1.415M $1.105M
Total Long-Term Liabilities $54.50M $51.50M $0.00
Total Liabilities $56.29M $52.92M $1.100M
YoY Change 80.97% 4710.45% -92.15%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $549.1M $429.7M $515.3M
YoY Change
Total Liabilities & Shareholders Equity $605.4M $482.6M $516.4M
YoY Change 12.88% -6.55% 14.58%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $10.20M -$14.02M $8.050M
YoY Change 60.38% -274.16% 95.86%
Depreciation, Depletion And Amortization $6.800M $6.500M $9.000M
YoY Change -21.84% -27.78% 50.0%
Cash From Operating Activities $16.60M $14.10M $15.60M
YoY Change 5.06% -9.62% 105.26%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$126.5M -$9.200M $0.00
YoY Change 291.64%
Cash From Investing Activities -$126.5M -$9.200M $0.00
YoY Change 291.64% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.6M -3.400M -15.50M
YoY Change 870.43% -78.06% 520.0%
NET CHANGE
Cash From Operating Activities 16.60M 14.10M 15.60M
Cash From Investing Activities -126.5M -9.200M 0.000
Cash From Financing Activities 111.6M -3.400M -15.50M
Net Change In Cash 1.700M 1.500M 100.0K
YoY Change -134.0% 1400.0% -98.51%
FREE CASH FLOW
Cash From Operating Activities $16.60M $14.10M $15.60M
Capital Expenditures $0.00 $0.00
Free Cash Flow $16.60M $15.60M
YoY Change 160.0%

Facts In Submission

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us-gaap Basis Of Accounting
BasisOfAccounting
<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;">Basis of Presentation </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 accompanying consolidated financial statements and related notes thereto were prepared in conformity with GAAP. All material intercompany balances and transactions are eliminated in consolidation. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;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;">These financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10&#8211;Q should be read in conjunction with the Partnership&#8217;s most recent Annual Report on Form 10&#8211;K for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, which contains a summary of the Partnership&#8217;s significant accounting policies and other disclosures.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;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:left;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 Partnership&#8217;s 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 financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership&#8217;s disclosure of contingent assets and liabilities at the date of the financial statements. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;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 Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Partnership&#8217;s estimates. Any effects on the Partnership&#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 interests and unit&#8211;based compensation.</font></div></div>

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