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 14,42650,31173,06590,505204,35427,304
Cash and cash equivalents 14,42650,31173,06590,505204,35427,304
Restricted cash and investments 250 4,00024,707  
Receivables 51,09174,25369,31971,327115,992316,655
Inventory, net of allowances, customer advances and progress billings 13,56515,86120,94222,26929,39530,171
Inventory 13,56515,86120,94222,26929,39530,171
Prepaid expense      28,218
Other current assets 22,26018,07319,47725,76270,68586,854
Other undisclosed current assets      (55,407)
Total current assets: 101,592158,498186,803234,570420,426433,795
Noncurrent Assets
Property, plant and equipment 227,565275,710327,314405,151880,0321,235,258
Long-term investments and receivables      987
Long-term investments      987
Intangible assets, net (including goodwill) 3474044625205,883597,239
Goodwill      582,739
Intangible assets, net (excluding goodwill) 3474044625205,88314,500
Deposits noncurrent assets      10,125
Estimated insurance recoveries 13,40013,10015,10016,30017,30018,700
Deferred costs     18,09810,735
Other noncurrent assets 18,3668,56214,54217,74021,45756,471
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: 246,278284,676342,318423,411907,3721,899,703
TOTAL ASSETS: 347,870443,174529,121657,9811,327,7982,333,498
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 8,70013,58713,69710,35730,740315,468
Interest and dividends payable      15,241
Taxes payable      25,892
Employee-related liabilities      32,477
Accounts payable 8,70013,58713,69710,35730,74077,631
Accrued liabilities      164,227
Self insurance reserve      31,359
Other liabilities 90,71587,37787,579103,938120,593164,227
Other undisclosed current liabilities 2,9192,5002,5002,5003,150(269,196)
Total current liabilities: 102,334103,464103,776116,795154,483241,858
Noncurrent Liabilities
Long-term debt and lease obligation 240,007241,079243,103245,477961,700748,426
Long-term debt, excluding current maturities 240,007241,079243,103245,477961,700748,426
Liabilities, other than long-term debt 30,71028,33628,16629,77944,998273,660
Accounts payable and accrued liabilities 30,71028,33628,16629,74430,74632,741
Asset retirement obligations      12,525
Deferred tax liabilities, net  3514,252228,394
Other undisclosed noncurrent liabilities 26,07224,77525,39323,31326,32711,491
Total noncurrent liabilities: 296,789294,190296,662298,5691,033,0251,033,577
Total liabilities: 399,123397,654400,438415,3641,187,5081,275,435
Equity
Equity, attributable to parent (51,353)45,220127,983242,417139,8901,055,863
Common stock 20620420220115,75415,356
Treasury stock, value (100)(300)(700)(200)(400)(2,200)
Additional paid in capital 265,588264,945259,314252,421966,637960,647
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 1003007002004002,200
Total equity: (51,253)45,520128,683242,617140,2901,058,063
TOTAL LIABILITIES AND EQUITY: 347,870443,174529,121657,9811,327,7982,333,498

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 413,854521,695436,16517,830792,3261,427,336
Revenue, net436,16517,830792,3261,427,336
Cost of revenue
(Cost of Goods and Services Sold)
 (333,462)(406,396)(332,332)(16,603)(714,637)(1,059,651)
Gross profit: 80,392115,299103,8331,22777,689367,685
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) 2,0162,3547,187(32)(9,394)(1,009)
Investment income, nonoperating 7238207112015982
Gain (loss), foreign currency transaction, before tax  233(17)(4,153)(3,733)
Other nonoperating income (expense) 1,2931,5326,443(35)2,3052,642
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) 3925
Loss from continuing operations before income taxes: (101,393)(90,775)(122,851)(10,244)(1,110,511)(259,086)
Income tax benefit 3,9751,9791,702200192,84980,483
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.

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