Global Geophysical Services Inc (GGS) Financial Statements (2024 and earlier)

Company Profile

Business Address 13927 SOUTH GESSNER
MISSOURI CITY, TX 77489
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1382 - Oil and Gas Field Exploration Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2014
MRQ
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 18,90023,359
Cash and cash equivalents 18,90023,359
Receivables 81,86069,837
Inventory, net of allowances, customer advances and progress billings 10711,864
Inventory 10711,864
Prepaid expense 3,227
Prepaid expense and other current assets12,673
Income taxes receivable 1,472
Deferred tax assets  12,673
Other undisclosed current assets (13,569)(20,107)
Total current assets: 90,525111,771
Noncurrent Assets
Property, plant and equipment 79,693100,172
Long-term investments and receivables  441
Long-term investments  441
Intangible assets, net (including goodwill) 21,25825,464
Goodwill 10,96712,381
Intangible assets, net (excluding goodwill) 10,29113,083
Regulated entity, other noncurrent assets  5,689
Deferred costs 8,801 
Other noncurrent assets 200
Prepaid expense and other noncurrent assets6,401
Deferred tax assets, net  (14,400)
Other undisclosed noncurrent assets 192,430317,337
Total noncurrent assets: 302,382441,104
TOTAL ASSETS: 392,907552,875
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 48,68242,597
Taxes payable 7,1443,563
Other undisclosed accounts payable and accrued liabilities 41,53839,034
Debt 342,30628,609
Other liabilities 1,4893,059
Deferred revenue and credits 26,36122,498
Other undisclosed current liabilities 7,1443,563
Total current liabilities: 425,982100,326
Noncurrent Liabilities
Long-term debt and lease obligation 336,542315,426
Long-term debt, excluding current maturities 336,542311,250
Capital lease obligations  4,176
Liabilities, other than long-term debt 2541,505
Other liabilities 2541,505
Other undisclosed noncurrent liabilities (336,542)28,070
Total noncurrent liabilities: 254345,001
Total liabilities: 426,236445,327
Equity
Equity, attributable to parent (33,329)107,548
Common stock 485476
Treasury stock, value (96,531)(96,528)
Additional paid in capital 269,421253,415
Accumulated deficit (206,704)(49,815)
Other undisclosed equity 96,53196,528
Total equity: 63,202204,076
Other undisclosed liabilities and equity (96,531)(96,528)
TOTAL LIABILITIES AND EQUITY: 392,907552,875

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

9/30/2014
TTM
12/31/2013
12/31/2012
Revenues 288,659338,984
Cost of revenue
(Cost of Goods and Services Sold)
 (229,066) 
Other undisclosed gross profit  (239,783)
Gross profit: 59,59399,201
Operating expenses (261,655)(239,783)
Other operating income, net
(Other Expenses)
 36,98135,826
Other undisclosed operating income 44,878147,207
Operating income (loss): (120,203)42,451
Nonoperating expense (1,136)(4,160)
Loss, foreign currency transaction, before tax (439)(1,688)
Other nonoperating expense (697)(2,472)
Interest and debt expense (35,845)(31,666)
Income (loss) from continuing operations before income taxes: (157,184)6,625
Income tax expense (benefit) 3,358(20,428)
Loss from continuing operations: (153,826)(13,803)
Loss before gain (loss) on sale of properties: (153,826)(13,803)
Net loss: (153,826)(13,803)
Net income attributable to noncontrolling interest 312472
Net loss available to common stockholders, diluted: (153,514)(13,331)

Comprehensive Income ($ in thousands)

9/30/2014
TTM
12/31/2013
12/31/2012
Net loss: (153,826)(13,803)
Comprehensive loss: (153,826)(13,803)
Comprehensive loss, net of tax, attributable to noncontrolling interest (312)(472)
Comprehensive loss, net of tax, attributable to parent: (154,138)(14,275)

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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