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 investments | 20 | 35 | 31 | 70 | 69 | 85 | 125 | ||
| Cash and cash equivalents | 20 | 35 | 31 | 70 | 69 | 85 | 125 | ||
| Receivables | 407 | 434 | 455 | 341 | 339 | 144 | 69 | ||
| Inventory, net of allowances, customer advances and progress billings | 135 | 117 | 120 | 129 | 119 | 77 | 81 | ||
| Inventory | 135 | 117 | 120 | 129 | 119 | 77 | 81 | ||
| Other undisclosed current assets | 68 | 86 | 63 | 43 | 41 | 31 | 26 | ||
| Total current assets: | 630 | 672 | 669 | 583 | 567 | 338 | 300 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 18 | 20 | 29 | 36 | 39 | 31 | 33 | ||
| Operating lease, right-of-use asset | 110 | 131 | 125 | 70 | 76 | 78 | 75 | ||
| Property, plant and equipment | 1,199 | 1,070 | 1,077 | 1,106 | 1,121 | 583 | 613 | ||
| Deferred income tax assets | 1 | 78 | 5 | ||||||
| Other noncurrent assets | 82 | 44 | 82 | 29 | 31 | ||||
| Other undisclosed noncurrent assets | 73 | 75 | |||||||
| Total noncurrent assets: | 1,410 | 1,295 | 1,306 | 1,334 | 1,323 | 721 | 751 | ||
| TOTAL ASSETS: | 2,041 | 1,966 | 1,975 | 1,917 | 1,890 | 1,059 | 1,051 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 524 | 460 | 440 | 351 | 222 | 88 | 49 | ||
| Accounts payable | 289 | 229 | 183 | 185 | 193 | 70 | 27 | ||
| Accrued liabilities | 235 | 231 | 257 | 166 | |||||
| Employee-related liabilities | 28 | 14 | 8 | ||||||
| Taxes payable | 5 | ||||||||
| Interest and dividends payable | 4 | 8 | |||||||
| Deferred revenue | 5 | ||||||||
| Debt | 10 | 11 | 17 | 20 | 21 | 20 | 16 | ||
| Due to related parties | 1 | 4 | 7 | 2 | 3 | ||||
| Other undisclosed current liabilities | 30 | 35 | 27 | 21 | 114 | 58 | 33 | ||
| Total current liabilities: | 569 | 509 | 491 | 394 | 356 | 166 | 101 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 203 | 216 | 200 | 161 | 167 | 166 | 170 | ||
| Long-term debt, excluding current maturities | 121 | 121 | 105 | 105 | 105 | 106 | 106 | ||
| Finance lease, liability | 4 | 5 | 6 | 10 | 11 | 7 | 13 | ||
| Operating lease, liability | 77 | 90 | 89 | 46 | 50 | 54 | 51 | ||
| Liabilities, other than long-term debt | 38 | 49 | 54 | 85 | 57 | 50 | 61 | ||
| Accounts payable and accrued liabilities | 38 | 48 | 53 | 85 | 57 | 48 | 46 | ||
| Deferred income tax liabilities | 1 | 1 | 1 | 3 | 15 | ||||
| Total noncurrent liabilities: | 241 | 265 | 255 | 245 | 224 | 216 | 230 | ||
| Total liabilities: | 810 | 774 | 746 | 639 | 580 | 382 | 331 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 1,213 | 1,180 | 1,217 | 1,205 | 1,151 | 508 | 532 | ||
| Additional paid in capital | 1,368 | 1,278 | 1,274 | 1,212 | 1,126 | 446 | 436 | ||
| Accumulated other comprehensive income (loss) | (0) | 0 | 2 | 1 | |||||
| Retained earnings (accumulated deficit) | (156) | (100) | (61) | (11) | 23 | 60 | 95 | ||
| Other undisclosed stockholders' equity attributable to parent | 2 | 2 | 2 | 2 | 2 | 1 | 1 | ||
| Stockholders' equity attributable to noncontrolling interest | 17 | 12 | 13 | 73 | 159 | 169 | 188 | ||
| Total stockholders' equity: | 1,230 | 1,192 | 1,229 | 1,278 | 1,310 | 676 | 720 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,041 | 1,966 | 1,975 | 1,917 | 1,890 | 1,059 | 1,051 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 684 | 654 | 581 | 552 | 258 | 147 | 88 | |
| 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) | 7 | 1 | (0) | 0 | 0 | 0 | ||
| Investment income, nonoperating | 0 | 0 | 0 | |||||
| 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 taxes | 2 | |||||||
| Loss from continuing operations before income taxes: | (57) | (39) | (36) | (46) | (58) | (59) | (77) | |
| Income tax expense (benefit) | 0 | (1) | (16) | 7 | 10 | 10 | 11 | |
| 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 interest | 1 | 0 | 2 | 4 | 11 | 15 | 20 | |
| 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) | 1 | 1 | ||||
| Comprehensive loss: | (57) | (42) | (51) | (37) | (48) | (49) | (66) | |
| Comprehensive income, net of tax, attributable to noncontrolling interest | 1 | 1 | 2 | 4 | 11 | 15 | 20 | |
| 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.