Basic Energy Services, Inc. (BAS) financial statements (2021 and earlier)

Company profile

Business Address 801 CHERRY STREET
FORT WORTH, TX 76102
State of Incorp.
Fiscal Year End December 31
SIC 1389 - Oil and Gas Field Services, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2711 3650
Cash and cash equivalents2711 3650
Receivables607071 100124
Inventory, net of allowances, customer advances and progress billings9910 2028
Inventory9910 2028
Prepaid expense8116 615
Disposal group, including discontinued operation41113 55 
Other current assets 33 39
Other undisclosed current assets127    
Total current assets:95118114 220226
Noncurrent Assets
Operating lease, right-of-use asset101112 1517
Property, plant and equipment211237250 297407
Intangible assets, net (including goodwill)61515 33
Goodwill 88   
Intangible assets, net (excluding goodwill)666 33
Other noncurrent assets271616 1412
Other undisclosed noncurrent assets 11 22
Total noncurrent assets:254279293 330442
TOTAL ASSETS:349397407 550668
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities12012997 106132
Accounts payable656453 5866
Accrued liabilities556544 4865
Debt8818 1923
Derivative instruments and hedges, liabilities 613   
Disposal group, including discontinued operation 11 5 
Self insurance reserve231817 98
Other liabilities872 44
Other undisclosed current liabilities224 55
Total current liabilities:161170152 148172
Noncurrent Liabilities
Long-term debt and lease obligation, including:318304300 308314
Finance lease, liability    1723
Operating lease, liability898 1012
Other undisclosed long-term debt and lease obligation309295293 282279
Liabilities, other than long-term debt504849 4342
Deferred compensation liability, classified7711   
Asset retirement obligations101111 99
Deferred income tax liabilities011   
Other liabilities1322 1814
Self insurance reserve202724 1719
Other undisclosed noncurrent liabilities298 1012
Total noncurrent liabilities:369361357 361368
Total liabilities:530531509 509540
Temporary equity, carrying amount222222   
Stockholders' equity
Stockholders' equity attributable to parent(203)(156)(124) 41128
Common stock000 00
Treasury stock, value(5)(5)(5) (9)(9)
Additional paid in capital494494494 473472
Accumulated deficit(691)(645)(613) (423)(335)
Total stockholders' equity:(203)(156)(124) 41128
TOTAL LIABILITIES AND EQUITY:349397407 550668

Income statement (P&L) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Revenues(314)9590 145178
Cost of revenue    (136)(168)
Cost of goods and services sold    423(138)
Other undisclosed gross profit(5)   (86)29
Gross profit:(319)9590 (77)40
Operating expenses(36)   (86)(36)
Other undisclosed operating income (loss)    86(29)
Operating income (loss):(355)9590 (78)(25)
Nonoperating income1   00
Investment income, nonoperating1   00
Other nonoperating income    00
Interest and debt expense33(12)(13) (10)(12)
Income (loss) from continuing operations before equity method investments, income taxes:(322)8477 (88)(37)
Other undisclosed income (loss) from continuing operations before income taxes278(113)(117) 90 
Income (loss) from continuing operations before income taxes:(44)(29)(40) 3(37)
Income tax expense (benefit)(0)(0)0 0(2)
Net income (loss):(44)(29)(40) 3(39)
Other undisclosed net loss attributable to parent(3)(3)(5) (90) 
Net loss available to common stockholders, diluted:(47)(32)(45) (88)(39)

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Net income (loss):(44)(29)(40) 3(39)
Comprehensive income (loss), net of tax, attributable to parent:(44)(29)(40) 3(39)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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