Parker Drilling Company (PKD) Financial Statements (2024 and earlier)

Company Profile

Business Address 5 GREENWAY PLAZA
HOUSTON, TX 77046
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1381 - Drilling Oil and Gas Wells (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments48,602141,549119,691134,294108,456148,689
Cash and cash equivalents48,602141,549119,691134,294108,456148,689
Restricted cash and investments 10,389     
Receivables136,437122,511113,231175,105270,952257,889
Inventory, net of allowances, customer advances and progress billings36,24531,41532,35434,93747,94341,781
Inventory36,24531,41532,35434,93747,94341,781
Deferred costs4,3533,1451,4361,3675,67313,682
Other current assets27,92914,32713,13115,84618,556 
Prepaid expense and other current assets23,223
Other undisclosed current assets2,9494,8896,4755,19218,19934,019
Total current assets:266,904317,836286,318366,741469,779519,283
Noncurrent Assets
Property, plant and equipment534,371625,771693,439805,841895,940871,356
Intangible assets, net (including goodwill)4,82113,83616,63620,085 
Goodwill  6,7086,7086,708  
Intangible assets, net (excluding goodwill)4,8217,1289,92813,377  
Regulated entity, other noncurrent assets    12,62612,52614,208
Deferred costs   8,674   
Deferred income tax assets
Other noncurrent assets7,20432,836    
Prepaid expense and other noncurrent assets144,117
Other undisclosed noncurrent assets15,114 98,484171,611142,414(14,208)
Total noncurrent assets:561,510672,443817,2331,010,1631,050,8801,015,473
TOTAL ASSETS:828,414990,2791,103,5511,376,9041,520,6591,534,756
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:78,44899,24698,841129,703154,479174,886
Taxes payable3,3854,4304,0806,41814,1867,266
Employee-related liabilities     35,214 
Accounts payable39,67841,52342,65558,08078,77690,033
Accrued liabilities35,38557,72356,18671,62375,70384,853
Other undisclosed accounts payable and accrued liabilities  (4,430)(4,080)(6,418)(49,400)(7,266)
Debt     10,00025,000
Contract with customer, liability4,081
Other undisclosed current liabilities 5,9194,4304,0806,41814,1867,266
Total current liabilities:88,448103,676102,921136,121178,665207,152
Noncurrent Liabilities
Long-term debt and lease obligation 577,971576,326585,000605,000628,781
Long-term debt, excluding current maturities 577,971576,326585,000605,000628,781
Liabilities, other than long-term debt11,54412,43385,16987,27170,78065,681
Deferred tax liabilities, net  69,33368,65452,11538,767
Deferred income tax liabilities
Other liabilities11,54412,43315,83618,61718,66526,914
Other undisclosed noncurrent liabilities 51078    
Total noncurrent liabilities:12,054590,482661,495672,271675,780694,462
Total liabilities:100,502694,158764,416808,392854,445901,614
Equity
Equity, attributable to parent, including:126,916296,121339,135568,512662,431631,696
Preferred stock 500500    
Common stock1,398 20,83720,51820,32520,075
Additional paid in capital766,347744,746675,194669,120666,769657,349
Accumulated other comprehensive income (loss)(6,879)(3,512)(6,844)(1,888)(498)1,888
Retained earnings (accumulated deficit)(634,450)(468,753)(350,052)(119,238)(24,165)(47,616)
Other undisclosed equity, attributable to parent  23,140    
Equity, attributable to noncontrolling interest     3,7831,446
Other undisclosed equity 600,996     
Total equity:727,912296,121339,135568,512666,214633,142
TOTAL LIABILITIES AND EQUITY:828,414990,2791,103,5511,376,9041,520,6591,534,756

Income Statement (P&L) ($ in thousands)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues 480,821442,520427,004712,183968,684874,172
Cost of revenue (461,104)(449,333)(466,371)(647,937)(111,159)(70,022)
Cost of goods and services sold  (57,800)(69,300)(87,800)(82,600)(69,700)
Other undisclosed gross profit (24,545)(28,527)(35,945)(34,547)(703,343)(635,703)
Gross profit: (4,828)(35,340)(75,312)29,699154,182168,447
Operating expenses(24,545)(28,527)(35,945)(34,547)(703,343)(635,703)
Other undisclosed operating income (loss) (84,031)(1,938) (12,490)669,381569,128
Operating income (loss):(113,404)(65,805)(111,257)(17,338)120,220101,872
Nonoperating expense (44,497)(43,856)(45,387)(54,633)(71,683)(49,085)
Other nonoperating income (expense) (2,023)126367(9,747)2,5391,450
Interest and debt expense (9,789)(44,226)(1,088)(7,700)(74,417)(53,038)
Other undisclosed income from continuing operations before equity method investments, income taxes 9,78944,2261,0887,70074,41753,038
Income (loss) from continuing operations before income taxes:(157,901)(109,661)(156,644)(71,971)48,53752,787
Income tax expense (7,796)(9,040)(74,170)(22,313)(24,076)(25,608)
Income (loss) from continuing operations:(165,697)(118,701)(230,814)(94,284)24,46127,179
Income (loss) before gain (loss) on sale of properties:(165,697)(118,701)(230,814)(94,284)24,46127,179
Net income (loss):(165,697)(118,701)(230,814)(94,284)24,46127,179
Net loss attributable to noncontrolling interest    (789)(1,010)(164)
Net income (loss) attributable to parent:(165,697)(118,701)(230,814)(95,073)23,45127,015
Preferred stock dividends and other adjustments (2,719)(3,051)    
Net income (loss) available to common stockholders, diluted:(168,416)(121,752)(230,814)(95,073)23,45127,015

Comprehensive Income ($ in thousands)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(165,697)(118,701)(230,814)(94,284)24,46127,179
Other comprehensive income (loss)  3,332(4,956)(1,607)(2,723)1,526
Other undisclosed comprehensive income (loss)    4,606(673)198
Comprehensive income (loss):(165,697)(115,369)(235,770)(91,285)21,06528,903
Comprehensive income (loss), net of tax, attributable to noncontrolling interest    4,606(673)(198)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (3,367)  (9,212)1,346 
Comprehensive income (loss), net of tax, attributable to parent:(169,064)(115,369)(235,770)(95,891)21,73828,705

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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