Helmerich & Payne, Inc. (HP) financial statements (2021 and earlier)
Company profile
| Business Address |
1437 S. BOULDER AVE., SUITE 1400 TULSA, OK 74119 |
| State of Incorp. | DE |
| Fiscal Year End | September 30 |
| SIC | 1381 - Drilling Oil and Gas Wells (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 TTM | 9/30/2020 | 9/30/2019 | 9/30/2018 | 9/30/2017 | 9/30/2016 | 9/30/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments, including: | 524 | 577 | 401 | 326 | 566 | 950 | 764 | ||
| Cash and cash equivalents | 374 | 488 | 348 | 284 | 521 | 906 | 718 | ||
| Short-term investments | 150 | 89 | 53 | 41 | 44 | 44 | 46 | ||
| Other undisclosed cash, cash equivalents, and short-term investments | (0) | (0) | |||||||
| Restricted cash and investments | 46 | 31 | 40 | 32 | 28 | 30 | |||
| Receivables | 234 | 193 | 496 | 565 | 477 | 375 | 449 | ||
| Inventory, net of allowances, customer advances and progress billings | 99 | 104 | 150 | 158 | 137 | 124 | 129 | ||
| Inventory | 99 | 104 | 150 | 158 | 137 | 124 | 129 | ||
| Prepaid expense | 9 | 6 | 6 | 4 | 6 | 8 | |||
| Disposal group, including discontinued operation | 0 | 0 | 8 | ||||||
| Assets held-for-sale, not part of disposal group | 45 | ||||||||
| Other current assets | 13 | 5 | 2 | 8 | 9 | 15 | |||
| Other undisclosed current assets | 96 | 22 | 27 | 18 | 10 | 36 | 36 | ||
| Total current assets: | 953 | 963 | 1,115 | 1,116 | 1,235 | 1,573 | 1,439 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 43 | 45 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 3,552 | 3,646 | 4,502 | 4,857 | 5,001 | 5,145 | 5,567 | ||
| Long-term investments and receivables | 34 | 32 | 32 | 99 | 84 | 85 | 104 | ||
| Long-term investments | 34 | 32 | 32 | 99 | 84 | 85 | 104 | ||
| Intangible assets, net (including goodwill) | 125 | 127 | 170 | 138 | 102 | ||||
| Goodwill | 46 | 46 | 83 | 65 | 52 | ||||
| Intangible assets, net (excluding goodwill) | 79 | 81 | 87 | 73 | 51 | ||||
| Restricted cash and investments | 2 | ||||||||
| Other noncurrent assets | 20 | 17 | 21 | 5 | 17 | 30 | 41 | ||
| Other undisclosed noncurrent assets | (2) | ||||||||
| Total noncurrent assets: | 3,774 | 3,866 | 4,724 | 5,099 | 5,205 | 5,259 | 5,713 | ||
| TOTAL ASSETS: | 4,727 | 4,830 | 5,840 | 6,215 | 6,440 | 6,832 | 7,152 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 228 | 219 | 410 | 377 | 344 | 330 | 384 | ||
| Accounts payable | 47 | 36 | 123 | 133 | 136 | 95 | 111 | ||
| Accrued liabilities | 154 | 155 | 287 | 245 | 209 | 235 | 198 | ||
| Employee-related liabilities | 36 | ||||||||
| Taxes payable | 39 | ||||||||
| Interest and dividends payable | 27 | 27 | |||||||
| Debt | 39 | ||||||||
| Liability for uncertainty in income taxes | 7 | ||||||||
| Disposal group, including discontinued operation | 0 | 0 | 3 | ||||||
| Self insurance reserve | 11 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 43 | ||||
| Other undisclosed current liabilities | (135) | ||||||||
| Total current liabilities: | 228 | 219 | 410 | 377 | 344 | 330 | 351 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 481 | 481 | 479 | 494 | 493 | 492 | 492 | ||
| Long-term debt, excluding current maturities | 481 | 481 | 479 | 494 | 493 | 492 | 492 | ||
| Liabilities, other than long-term debt | 792 | 811 | 938 | 961 | 1,438 | 1,449 | 1,459 | ||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 853 | 1,333 | 1,342 | 1,295 | ||
| Deferred income tax liabilities | 635 | 651 | 807 | ✕ | ✕ | ✕ | ✕ | ||
| Liability for uncertainty in income taxes | 18 | ||||||||
| Liability, pension and other postretirement and postemployment benefits | 9 | ||||||||
| Disposal group, including discontinued operation, liabilities | 6 | 13 | 15 | 14 | 4 | 4 | 5 | ||
| Other liabilities | 151 | 147 | 116 | 94 | 101 | 103 | 111 | ||
| Self insurance reserve | 21 | ||||||||
| Other undisclosed noncurrent liabilities | (48) | ||||||||
| Total noncurrent liabilities: | 1,274 | 1,292 | 1,417 | 1,455 | 1,931 | 1,941 | 1,903 | ||
| Total liabilities: | 1,502 | 1,511 | 1,827 | 1,832 | 2,275 | 2,271 | 2,255 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 3,225 | 3,319 | 4,012 | 4,383 | 4,165 | 4,561 | 4,897 | ||
| Common stock | 11 | 11 | 11 | 11 | 11 | 11 | 11 | ||
| Treasury stock, value | (184) | (198) | (195) | (173) | (192) | (188) | (182) | ||
| Additional paid in capital | 512 | 522 | 510 | 500 | 487 | 448 | 420 | ||
| Accumulated other comprehensive income (loss) | (26) | (26) | (29) | 17 | 2 | (0) | (1) | ||
| Retained earnings | 2,911 | 3,010 | 3,714 | 4,028 | 3,856 | 4,290 | 4,650 | ||
| Total stockholders' equity: | 3,225 | 3,319 | 4,012 | 4,383 | 4,165 | 4,561 | 4,897 | ||
| TOTAL LIABILITIES AND EQUITY: | 4,727 | 4,830 | 5,840 | 6,215 | 6,440 | 6,832 | 7,152 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 TTM | 9/30/2020 | 9/30/2019 | 9/30/2018 | 9/30/2017 | 9/30/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,406 | 1,774 | 2,798 | 2,487 | 1,805 | 1,624 | 3,165 | |
| Revenue, net | ✕ | ✕ | ✕ | 2,487 | 1,805 | 1,624 | 3,165 | |
| Cost of revenue | (1,443) | (1,660) | (2,361) | (2,220) | (1,830) | (1,499) | (2,305) | |
| Cost of goods and services sold | (984) | (1,185) | (1,803) | |||||
| Gross profit: | (38) | 114 | 437 | 268 | (25) | 125 | 860 | |
| Operating expenses | (707) | (734) | (417) | (236) | (147) | (151) | (185) | |
| Operating income (loss): | (745) | (620) | 21 | 32 | (173) | (26) | 676 | |
| Nonoperating expense | (33) | (16) | (72) | (16) | (12) | (47) | (10) | |
| Investment income, nonoperating | (2) | 14 | (45) | 8 | 6 | (23) | 6 | |
| Foreign currency transaction gain, before tax | 3 | |||||||
| Other nonoperating income (expense) | (6) | (5) | (2) | 0 | 2 | (1) | (1) | |
| Interest and debt expense | (25) | (24) | (25) | (24) | (20) | (23) | (15) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | (802) | (661) | (76) | (8) | (204) | (96) | 651 | |
| Other undisclosed income from continuing operations before income taxes | 25 | 24 | 25 | 24 | 20 | 23 | 15 | |
| Income (loss) from continuing operations before income taxes: | (777) | (636) | (51) | 16 | (185) | (73) | 666 | |
| Income tax expense (benefit) | 172 | 140 | 19 | 477 | 57 | 20 | (243) | |
| Income (loss) from continuing operations: | (605) | (496) | (33) | 493 | (128) | (53) | 422 | |
| Income (loss) from discontinued operations | 10 | 2 | (1) | (10) | (0) | (4) | (0) | |
| Net income (loss) attributable to parent: | (596) | (494) | (34) | 483 | (128) | (57) | 422 | |
| Undistributed earnings (loss) allocated to participating securities, basic | (2) | (3) | (3) | (4) | (2) | ✕ | ✕ | |
| Other undisclosed net loss available to common stockholders, basic | (2) | (2) | ||||||
| Net income (loss) available to common stockholders, basic: | (598) | (497) | (37) | 478 | (130) | (59) | 420 | |
| Dilutive securities, effect on basic earnings per share | 0 | 0 | ||||||
| Net income (loss) available to common stockholders, diluted: | (598) | (497) | (37) | 478 | (130) | (59) | 420 | |
Comprehensive Income ($ in millions)
| 12/31/2020 TTM | 9/30/2020 | 9/30/2019 | 9/30/2018 | 9/30/2017 | 9/30/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (596) | (494) | (34) | 483 | (128) | (57) | 422 | |
| Comprehensive income (loss): | (596) | (494) | (34) | 483 | (128) | (57) | 422 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 2 | 2 | (12) | 14 | 3 | 1 | (85) | |
| Comprehensive income (loss), net of tax, attributable to parent: | (593) | (492) | (46) | 497 | (126) | (56) | 338 | |
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.