Comstock Resources Inc. (CRK) Financial Statements (2024 and earlier)

Company Profile

Business Address 5300 TOWN AND COUNTRY BLVD
FRISCO, TX 75034
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments16,66954,65230,66330,27218,53223,193
Cash and cash equivalents16,66954,65230,66330,27218,53223,193
Receivables231,430510,127267,738139,631149,981107,004
Derivative instruments and hedges, assets126,77523,8845,2588,91375,30415,401
Other current assets86,61956,32415,07714,83910,39913,829
Other undisclosed current assets    6,15535,469 
Total current assets:461,493644,987318,736199,810289,685159,427
Noncurrent Assets
Operating lease, right-of-use asset71,46290,7166,4503,0253,509
Nontrade receivables     5,10910,218
Property, plant and equipment5,384,7714,622,6554,007,1464,084,5504,008,8031,667,979
Intangible assets, net (including goodwill)335,897335,897335,897335,897335,897350,214
Goodwill335,897335,897335,897335,897335,897350,214
Derivative instruments and hedges    66113,888 
Other noncurrent assets    402312
Total noncurrent assets:5,792,1305,049,2684,349,4934,424,1734,367,4372,028,413
TOTAL ASSETS:6,253,6235,694,2554,668,2294,623,9834,657,1222,187,840
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities657,726713,306449,595392,303390,160206,853
Accounts payable523,260530,195314,569259,284252,994138,767
Accrued liabilities134,466183,111135,026133,019137,16668,086
Debt     1,994 
Derivative instruments and hedges, liabilities  4,420181,94547,005222 
Other undisclosed current liabilities23,76538,4112,4442,284  
Total current liabilities:681,491756,137633,984441,592392,376206,853
Noncurrent Liabilities
Long-term debt and lease obligation2,640,3912,152,5712,619,3102,517,8892,501,6471,244,363
Long-term debt, excluding current maturities2,640,3912,152,5712,615,2352,517,1492,500,1321,244,363
Liabilities, other than long-term debt548,550507,233227,156222,72928,722167,053
Asset retirement obligations30,77329,11425,67319,29018,1515,136
Deferred tax liabilities, net161,917
Deferred income tax liabilities470,035425,734197,417200,583 
Other liabilities   244926,351 
Operating lease, liability47,74252,3854,0757401,515
Derivative instruments and hedges, liabilities  4,0422,3644,220 
Other undisclosed noncurrent liabilities     211,772 
Total noncurrent liabilities:3,188,9412,659,8042,846,4662,740,6182,742,1411,411,416
Total liabilities:3,870,4323,415,9413,480,4503,182,2103,134,5171,618,269
Equity
Equity, attributable to parent2,358,4142,278,3141,012,7791,266,7731,143,022569,571
Common stock139,214138,759116,462116,20695,00352,936
Additional paid in capital1,260,9301,253,4171,100,3591,095,384909,423452,513
Retained earnings (accumulated deficit)958,270886,138(204,042)55,183138,59664,122
Equity, attributable to noncontrolling interest24,777     
Other undisclosed equity   175,000175,000379,583 
Total equity:2,383,1912,278,3141,187,7791,441,7731,522,605569,571
TOTAL LIABILITIES AND EQUITY:6,253,6235,694,2554,668,2294,623,9834,657,1222,187,840

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,565,1093,628,0571,850,730858,195768,689 
Gross profit:1,565,1093,628,0571,850,730858,195768,689 
Operating expenses(1,338,512)(1,346,576)(949,956)(695,163)(493,803) 
Operating income:226,5972,281,481900,774163,032274,886 
Nonoperating income (expense)20,392(879,538)(1,131,096)(224,659)(150,194) 
Investment income, nonoperating187,639(662,522)(560,648)9,95151,735 
Interest and debt expense(169,018)(46,840)(352,599)(861)(161,541) 
Income (loss) from continuing operations before equity method investments, income taxes:77,9711,355,103(582,921)(62,488)(36,849) 
Other undisclosed income from continuing operations before income taxes169,01846,840352,599861161,541 
Income (loss) from continuing operations before income taxes:246,9891,401,943(230,322)(61,627)124,692 
Income tax expense (benefit)(35,095)(261,061)(11,403)9,210(27,803) 
Income (loss) from continuing operations:211,8941,140,882(241,725)(52,417)96,889 
Income (loss) before gain (loss) on sale of properties:(241,725)(52,417)96,889 
Net income (loss):211,8941,140,882(241,725)(52,417)96,889 
Net loss attributable to noncontrolling interest(777)     
Other undisclosed net loss attributable to parent      
Net income (loss) attributable to parent:211,1171,140,882(241,725)(52,417)96,889 
Preferred stock dividends and other adjustments  (16,014)    
Other undisclosed net income (loss) available to common stockholders, basic777 (17,500)(30,996)(22,415) 
Net income (loss) available to common stockholders, basic:211,8941,124,868(259,225)(83,413)74,474 
Other undisclosed net income (loss) available to common stockholders, diluted(327)16,014  22,059 
Net income (loss) available to common stockholders, diluted:211,5671,140,882(259,225)(83,413)96,533 

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):211,8941,140,882(241,725)(52,417)96,889 
Comprehensive income (loss):211,8941,140,882(241,725)(52,417)96,889 
Comprehensive loss, net of tax, attributable to noncontrolling interest(777)     
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:211,1171,140,882(241,725)(52,417)96,889 

Statements Sources

The financial statements are based on the Company's filings with 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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