Forum Energy Technologies, Inc. (FET) financial statements (2022 and earlier)

Company profile

Business Address 10344 SAM HOUSTON PARK DRIVE
HOUSTON, TX 77064
State of Incorp. DE
Fiscal Year End December 31
SIC 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments471295847115234109
Cash and cash equivalents471295847115234109
Receivables12481154206205138139
Inventory, net of allowances, customer advances and progress billings242252415479443339424
Inventory242252415479443339424
Contract with customer, asset1110510
Costs in excess of billings10912
Other current assets    182934
Other undisclosed current assets24193424   
Total current assets:447490666766790750718
Noncurrent Assets
Finance lease, right-of-use asset2 2
Operating lease, right-of-use asset253249
Property, plant and equipment 310155177197152187
Long-term investments and receivables   45 5958
Long-term investments   45 5958
Intangible assets, net (including goodwill)217240(734)8291,198869916
Goodwill  (1,007)470755653669
Intangible assets, net (excluding goodwill)217240272359443216247
Regulated entity, other noncurrent assets5 334  
Deferred costs      4
Deferred income tax assets001
Other noncurrent assets614169333
Deferred tax assets, net  11
Other undisclosed noncurrent assets89(196)1,003021 
Total noncurrent assets:3454004941,0641,4051,0851,168
TOTAL ASSETS:7918901,1601,8302,1951,8351,886
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities158114185224204129135
Accounts payable9946991431387477
Accrued liabilities58688781675659
Debt2111100
Deferred revenue and credits987
Billings in excess of cost249
Other undisclosed current liabilities16101112   
Total current liabilities:176125197237216142152
Noncurrent Liabilities
Long-term debt and lease obligation, including:267293399518507397396
Long-term debt, excluding current maturities232      
Finance lease, liability 11
Operating lease, liability354550
Other undisclosed long-term debt and lease obligation 248348518507397396
Liabilities, other than long-term debt19212830326181
Deferred tax liabilities, net  2651
Deferred income tax liabilities122
Other liabilities19192630323530
Other undisclosed noncurrent liabilities 45501531  
Total noncurrent liabilities:287359477563570458477
Total liabilities:462484674800786599629
Stockholders' equity
Stockholders' equity attributable to parent3294064861,0301,4091,2351,257
Common stock0011111
Treasury stock, value(136)(134)(134)(134)(134)(134)(133)
Additional paid in capital1,2501,2431,2321,2151,195998891
Accumulated other comprehensive loss(101)(100)(109)(115)(92)(128)(82)
Retained earnings (accumulated deficit)(684)(602)(503)64439498580
Stockholders' equity attributable to noncontrolling interest     10
Total stockholders' equity:3294064861,0301,4091,2361,257
TOTAL LIABILITIES AND EQUITY:7918901,1601,8302,1951,8351,886

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues5415129571,0648195881,074
Revenue, net8195881,074
Cost of revenue
(Cost of Goods and Services Sold)
(418)(523)(712)(808)(630)(488)(811)
Gross profit:123(11)245256189100263
Operating expenses(168)(221)(781)(654)(331)(231)(391)
Other undisclosed operating income (loss)  (0)01215
Operating loss:(44)(232)(536)(397)(142)(129)(114)
Nonoperating income (expense)(38)122(33)786(9)(21)
Investment income, nonoperating  2 120  
Foreign currency transaction gain (loss), before tax(0)(6)(5)6(7)219
Interest and debt expense(0)(2)(2)(2)(27)(3)(30)
Other undisclosed income from continuing operations before equity method investments, income taxes 22227330
Loss from continuing operations before equity method investments, income taxes:(82)(110)(569)(390)(55)(138)(134)
Other undisclosed income from continuing operations before income taxes0      
Loss from continuing operations before income taxes:(82)(110)(569)(390)(55)(138)(134)
Income tax expense (benefit)(1)13216(4)5615
Net loss:(83)(97)(567)(374)(59)(82)(119)
Net income (loss) attributable to noncontrolling interest     (0)0
Net loss available to common stockholders, diluted:(83)(97)(567)(374)(59)(82)(119)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net loss:(83)(97)(567)(374)(59)(82)(119)
Other comprehensive income (loss)1(1)(2)10(0)0
Other undisclosed comprehensive income (loss)  8(25)36(46)(45)
Comprehensive loss:(82)(98)(561)(397)(23)(128)(165)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest     (0)0
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1)9     
Comprehensive loss, net of tax, attributable to parent:(83)(88)(561)(397)(23)(128)(164)

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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