Liberty Oilfield Services Inc. (LBRT) financial statements (2022 and earlier)

Company profile

Business Address 950 17TH STREET
DENVER, CO 80202
State of Incorp.
Fiscal Year End December 31
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 millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments203531706985125
Cash and cash equivalents203531706985125
Receivables40743445534133914469
Inventory, net of allowances, customer advances and progress billings1351171201291197781
Inventory1351171201291197781
Other undisclosed current assets68866343413126
Total current assets:630672669583567338300
Noncurrent Assets
Finance lease, right-of-use asset18202936393133
Operating lease, right-of-use asset11013112570767875
Property, plant and equipment1,1991,0701,0771,1061,121583613
Deferred income tax assets1  785  
Other noncurrent assets82  44822931
Other undisclosed noncurrent assets 7375    
Total noncurrent assets:1,4101,2951,3061,3341,323721751
TOTAL ASSETS:2,0411,9661,9751,9171,8901,0591,051
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5244604403512228849
Accounts payable2892291831851937027
Accrued liabilities235231257166   
Employee-related liabilities    28148
Taxes payable      5
Interest and dividends payable     48
Deferred revenue5      
Debt10111720212016
Due to related parties1472  3
Other undisclosed current liabilities303527211145833
Total current liabilities:569509491394356166101
Noncurrent Liabilities
Long-term debt and lease obligation203216200161167166170
Long-term debt, excluding current maturities121121105105105106106
Finance lease, liability4561011713
Operating lease, liability77908946505451
Liabilities, other than long-term debt38495485575061
Accounts payable and accrued liabilities38485385574846
Deferred income tax liabilities111  315
Total noncurrent liabilities:241265255245224216230
Total liabilities:810774746639580382331
Stockholders' equity
Stockholders' equity attributable to parent, including:1,2131,1801,2171,2051,151508532
Additional paid in capital1,3681,2781,2741,2121,126446436
Accumulated other comprehensive income (loss)(0)021   
Retained earnings (accumulated deficit)(156)(100)(61)(11)236095
Other undisclosed stockholders' equity attributable to parent2222211
Stockholders' equity attributable to noncontrolling interest17121373159169188
Total stockholders' equity:1,2301,1921,2291,2781,310676720
TOTAL LIABILITIES AND EQUITY:2,0411,9661,9751,9171,8901,0591,051

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

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues68465458155225814788
Cost of revenue(709)(660)(587)(567)(302)(182)(132)
Cost of goods and services sold (594)(522)(499) (139)(90)
Gross profit:(25)(6)(5)(15)(44)(35)(44)
Operating expenses(38)(33)(31)(27)(10)(21)(30)
Operating loss:(63)(40)(36)(42)(54)(55)(74)
Nonoperating income (expense)71(0) 000
Investment income, nonoperating    000
Other nonoperating expense  (0)    
Interest and debt expense   (4)(4)(4)(4)
Other undisclosed loss from continuing operations before equity method investments, income taxes(2)      
Loss from continuing operations before equity method investments, income taxes:(58)(39)(36)(46)(58)(59)(77)
Other undisclosed income from continuing operations before income taxes2      
Loss from continuing operations before income taxes:(57)(39)(36)(46)(58)(59)(77)
Income tax expense (benefit)0(1)(16)7101011
Loss before gain (loss) on sale of properties:(57)(39)(52)(39)(48)(49)(66)
Other undisclosed net loss    (0)(0)(0)
Net loss:(57)(39)(52)(39)(48)(49)(66)
Net income attributable to noncontrolling interest1024111520
Net loss available to common stockholders, diluted:(56)(39)(51)(34)(37)(35)(46)

Comprehensive Income ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net loss:(57)(39)(52)(39)(48)(49)(66)
Other undisclosed comprehensive income (loss)(1)(2)11   
Comprehensive loss:(57)(42)(51)(37)(48)(49)(66)
Comprehensive income, net of tax, attributable to noncontrolling interest1124111520
Comprehensive loss, net of tax, attributable to parent:(56)(41)(49)(33)(37)(35)(46)

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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