Key Energy Services, Inc. (KEGX) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1301 MCKINNEY STREET HOUSTON, TX 77010 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (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 thousands)
| 9/30/2020 MRQ | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 14,426 | 50,311 | 73,065 | 90,505 | 204,354 | 27,304 | |||
| Cash and cash equivalents | 14,426 | 50,311 | 73,065 | 90,505 | 204,354 | 27,304 | |||
| Restricted cash and investments | 250 | 4,000 | 24,707 | ||||||
| Receivables | 51,091 | 74,253 | 69,319 | 71,327 | 115,992 | 316,655 | |||
| Inventory, net of allowances, customer advances and progress billings | 13,565 | 15,861 | 20,942 | 22,269 | 29,395 | 30,171 | |||
| Inventory | 13,565 | 15,861 | 20,942 | 22,269 | 29,395 | 30,171 | |||
| Prepaid expense | 28,218 | ||||||||
| Other current assets | 22,260 | 18,073 | 19,477 | 25,762 | 70,685 | 86,854 | |||
| Other undisclosed current assets | (55,407) | ||||||||
| Total current assets: | 101,592 | 158,498 | 186,803 | 234,570 | 420,426 | 433,795 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 227,565 | 275,710 | 327,314 | 405,151 | 880,032 | 1,235,258 | |||
| Long-term investments and receivables | 987 | ||||||||
| Long-term investments | 987 | ||||||||
| Intangible assets, net (including goodwill) | 347 | 404 | 462 | 520 | 5,883 | 597,239 | |||
| Goodwill | 582,739 | ||||||||
| Intangible assets, net (excluding goodwill) | 347 | 404 | 462 | 520 | 5,883 | 14,500 | |||
| Deposits noncurrent assets | 10,125 | ||||||||
| Estimated insurance recoveries | 13,400 | 13,100 | 15,100 | 16,300 | 17,300 | 18,700 | |||
| Deferred costs | 18,098 | 10,735 | |||||||
| Other noncurrent assets | 18,366 | 8,562 | 14,542 | 17,740 | 21,457 | 56,471 | |||
| Deferred tax assets, net | ✕ | ✕ | 35,238 | ||||||
| Other undisclosed noncurrent assets | (13,400) | (13,100) | (15,100) | (16,300) | (35,398) | (65,050) | |||
| Total noncurrent assets: | 246,278 | 284,676 | 342,318 | 423,411 | 907,372 | 1,899,703 | |||
| TOTAL ASSETS: | 347,870 | 443,174 | 529,121 | 657,981 | 1,327,798 | 2,333,498 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 8,700 | 13,587 | 13,697 | 10,357 | 30,740 | 315,468 | |||
| Interest and dividends payable | 15,241 | ||||||||
| Taxes payable | 25,892 | ||||||||
| Employee-related liabilities | 32,477 | ||||||||
| Accounts payable | 8,700 | 13,587 | 13,697 | 10,357 | 30,740 | 77,631 | |||
| Accrued liabilities | 164,227 | ||||||||
| Self insurance reserve | 31,359 | ||||||||
| Other liabilities | 90,715 | 87,377 | 87,579 | 103,938 | 120,593 | 164,227 | |||
| Other undisclosed current liabilities | 2,919 | 2,500 | 2,500 | 2,500 | 3,150 | (269,196) | |||
| Total current liabilities: | 102,334 | 103,464 | 103,776 | 116,795 | 154,483 | 241,858 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 240,007 | 241,079 | 243,103 | 245,477 | 961,700 | 748,426 | |||
| Long-term debt, excluding current maturities | 240,007 | 241,079 | 243,103 | 245,477 | 961,700 | 748,426 | |||
| Liabilities, other than long-term debt | 30,710 | 28,336 | 28,166 | 29,779 | 44,998 | 273,660 | |||
| Accounts payable and accrued liabilities | 30,710 | 28,336 | 28,166 | 29,744 | 30,746 | 32,741 | |||
| Asset retirement obligations | 12,525 | ||||||||
| Deferred tax liabilities, net | ✕ | ✕ | 35 | 14,252 | 228,394 | ||||
| Other undisclosed noncurrent liabilities | 26,072 | 24,775 | 25,393 | 23,313 | 26,327 | 11,491 | |||
| Total noncurrent liabilities: | 296,789 | 294,190 | 296,662 | 298,569 | 1,033,025 | 1,033,577 | |||
| Total liabilities: | 399,123 | 397,654 | 400,438 | 415,364 | 1,187,508 | 1,275,435 | |||
| Equity | |||||||||
| Equity, attributable to parent | (51,353) | 45,220 | 127,983 | 242,417 | 139,890 | 1,055,863 | |||
| Common stock | 206 | 204 | 202 | 201 | 15,754 | 15,356 | |||
| Treasury stock, value | (100) | (300) | (700) | (200) | (400) | (2,200) | |||
| Additional paid in capital | 265,588 | 264,945 | 259,314 | 252,421 | 966,637 | 960,647 | |||
| Accumulated other comprehensive income (loss) | 239 | (43,740) | (37,280) | ||||||
| Retained earnings (accumulated deficit) | (317,047) | (219,629) | (130,833) | (10,244) | (798,361) | 119,340 | |||
| Other undisclosed equity | 100 | 300 | 700 | 200 | 400 | 2,200 | |||
| Total equity: | (51,253) | 45,520 | 128,683 | 242,617 | 140,290 | 1,058,063 | |||
| TOTAL LIABILITIES AND EQUITY: | 347,870 | 443,174 | 529,121 | 657,981 | 1,327,798 | 2,333,498 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2020 TTM | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 413,854 | 521,695 | 436,165 | 17,830 | 792,326 | 1,427,336 | ||
| Revenue, net | ✕ | ✕ | ✕ | 436,165 | 17,830 | 792,326 | 1,427,336 | |
| Cost of revenue (Cost of Goods and Services Sold) | (333,462) | (406,396) | (332,332) | (16,603) | (714,637) | (1,059,651) | ||
| Gross profit: | 80,392 | 115,299 | 103,833 | 1,227 | 77,689 | 367,685 | ||
| Operating expenses | (148,278) | (174,265) | (200,013) | (10,075) | (1,104,998) | (583,561) | ||
| Other operating expense, net (Other Expenses) | (1,309,297) | |||||||
| Other undisclosed operating income | 1,321,298 | |||||||
| Operating loss: | (67,886) | (58,966) | (96,180) | (8,848) | (1,027,309) | (203,875) | ||
| Nonoperating income (expense) | 2,016 | 2,354 | 7,187 | (32) | (9,394) | (1,009) | ||
| Investment income, nonoperating | 723 | 820 | 711 | 20 | 159 | 82 | ||
| Gain (loss), foreign currency transaction, before tax | 2 | 33 | (17) | (4,153) | (3,733) | |||
| Other nonoperating income (expense) | 1,293 | 1,532 | 6,443 | (35) | 2,305 | 2,642 | ||
| Interest and debt expense | (35,523) | (34,163) | (31,797) | (1,364) | (73,847) | (54,227) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (1,501) | |||||||
| Loss from continuing operations before equity method investments, income taxes: | (101,393) | (90,775) | (122,291) | (10,244) | (1,110,550) | (259,111) | ||
| Income (loss) from equity method investments | (560) | 39 | 25 | |||||
| Loss from continuing operations before income taxes: | (101,393) | (90,775) | (122,851) | (10,244) | (1,110,511) | (259,086) | ||
| Income tax benefit | 3,975 | 1,979 | 1,702 | 200 | 192,849 | 80,483 | ||
| Other undisclosed income (loss) from continuing operations | 560 | (200) | (39) | (25) | ||||
| Loss from continuing operations: | (97,418) | (88,796) | (120,589) | (10,244) | (917,701) | (178,628) | ||
| Loss before gain (loss) on sale of properties: | ✕ | (97,418) | (88,796) | (120,589) | (10,244) | (917,701) | (178,628) | |
| Net loss available to common stockholders, diluted: | (97,418) | (88,796) | (120,589) | (10,244) | (917,701) | (178,628) | ||
Comprehensive Income ($ in thousands)
| 9/30/2020 TTM | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (97,418) | (88,796) | (120,589) | (10,244) | (917,701) | (178,628) | ||
| Other comprehensive income (loss) | (239) | 239 | (6,460) | (21,866) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (97,418) | (88,796) | (120,828) | (10,005) | (924,161) | (200,494) | ||
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.