$WTI
W&T OFFSHORE INC

2017 Q3 Form 10-Q Financial Statement

#000156459017021048 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $110.3M $107.4M
YoY Change 2.68% -14.91%
Cost Of Revenue $35.10M $37.50M
YoY Change -6.4% -16.67%
Gross Profit $75.10M $69.90M
YoY Change 7.44% -13.92%
Gross Profit Margin 68.1% 65.08%
Selling, General & Admin $20.10M $18.30M
YoY Change 9.84% -12.86%
% of Gross Profit 26.76% 26.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.40M $51.50M
YoY Change -29.32% -47.07%
% of Gross Profit 48.47% 73.68%
Operating Expenses $56.60M $69.80M
YoY Change -18.91% -41.0%
Operating Profit $15.70M -$58.28M
YoY Change -126.94% -87.56%
Interest Expense $11.55M -$24.00M
YoY Change -148.14% 46.34%
% of Operating Profit 73.59%
Other Income/Expense, Net $41.00K $73.00K
YoY Change -43.84% -107.57%
Pretax Income $4.187M $42.14M
YoY Change -90.06% -108.49%
Income Tax $5.484M -$3.789M
% Of Pretax Income 130.98% -8.99%
Net Earnings -$1.297M $45.93M
YoY Change -102.82% -109.62%
Net Earnings / Revenue -1.18% 42.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$9.448K $497.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.2M $73.40M
YoY Change 44.69% 878.67%
Cash & Equivalents $106.2M $73.35M
Short-Term Investments
Other Short-Term Assets $1.977M $2.149M
YoY Change -8.0% -92.79%
Inventory
Prepaid Expenses
Receivables $61.00M $53.50M
Other Receivables $11.70M $0.00
Total Short-Term Assets $193.9M $143.0M
YoY Change 35.59% 15.6%
LONG-TERM ASSETS
Property, Plant & Equipment $555.3M $586.6M
YoY Change -5.34% -59.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.10M $51.00M
YoY Change 68.82% 42.06%
Total Long-Term Assets $693.5M $689.6M
YoY Change 0.57% -53.29%
TOTAL ASSETS
Total Short-Term Assets $193.9M $143.0M
Total Long-Term Assets $693.5M $689.6M
Total Assets $887.4M $832.6M
YoY Change 6.58% -47.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.20M $83.30M
YoY Change -13.33% -22.51%
Accrued Expenses $26.55M $19.60M
YoY Change 35.46% -50.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.15M $8.800M
YoY Change 26.67%
Total Short-Term Liabilities $159.4M $223.0M
YoY Change -28.5% -14.26%
LONG-TERM LIABILITIES
Long-Term Debt $982.6M $1.014B
YoY Change -3.12% -31.16%
Other Long-Term Liabilities $67.03M $273.3M
YoY Change -75.47% -16.96%
Total Long-Term Liabilities $67.03M $1.288B
YoY Change -94.79% -28.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $159.4M $223.0M
Total Long-Term Liabilities $67.03M $1.288B
Total Liabilities $226.5M $1.511B
YoY Change -85.01% -27.22%
SHAREHOLDERS EQUITY
Retained Earnings -$1.119B
YoY Change
Common Stock $545.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.17M
YoY Change
Treasury Stock Shares $2.869M
Shareholders Equity -$597.3M -$678.0M
YoY Change
Total Liabilities & Shareholders Equity $887.4M $832.6M
YoY Change 6.58% -47.96%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$1.297M $45.93M
YoY Change -102.82% -109.62%
Depreciation, Depletion And Amortization $36.40M $51.50M
YoY Change -29.32% -47.07%
Cash From Operating Activities $64.70M $2.100M
YoY Change 2980.95% -96.1%
INVESTING ACTIVITIES
Capital Expenditures -$35.30M -$6.400M
YoY Change 451.56% -84.87%
Acquisitions
YoY Change
Other Investing Activities $6.500M -$3.300M
YoY Change -296.97% -77.55%
Cash From Investing Activities -$28.80M -$9.700M
YoY Change 196.91% -82.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.100M -90.90M
YoY Change -97.69% -1955.1%
NET CHANGE
Cash From Operating Activities 64.70M 2.100M
Cash From Investing Activities -28.80M -9.700M
Cash From Financing Activities -2.100M -90.90M
Net Change In Cash 33.80M -98.50M
YoY Change -134.31% -5284.21%
FREE CASH FLOW
Cash From Operating Activities $64.70M $2.100M
Capital Expenditures -$35.30M -$6.400M
Free Cash Flow $100.0M $8.500M
YoY Change 1076.47% -91.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;text-indent:3.57%;">Use of Estimates.<font style="font-weight:normal;font-style:normal;">&nbsp;&nbsp;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.&nbsp;&nbsp;Actual results could differ from those estimates.</font></p></div>
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11900000
CY2017Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
274500000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
290200000
CY2016Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1689000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2349000
CY2017Q3 wti Number Of Supplemental Bonding Orders Rescinded
NumberOfSupplementalBondingOrdersRescinded
4
CY2017Q3 wti Supplemental Bonding Outstanding Orders Amount
SupplementalBondingOutstandingOrdersAmount
260800000
CY2014Q4 wti Number Of Deepwater Wells Abandoned
NumberOfDeepwaterWellsAbandoned
3
CY2010Q4 wti Additional Royalty Due To Disallowed Deductions
AdditionalRoyaltyDueToDisallowedDeductions
4700000
CY2017Q1 wti Additional Royalty Payments Related To Unbundling
AdditionalRoyaltyPaymentsRelatedToUnbundling
4700000
wti Royalty Payment Processing Revised Period
RoyaltyPaymentProcessingRevisedPeriod
P84M
us-gaap Payments For Royalties
PaymentsForRoyalties
1200000

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