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)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 101,106 | 139,099 | 127,849 | 48,602 | 81,728 | 114,459 | |||
| Cash and cash equivalents | 101,106 | 139,099 | 127,849 | 48,602 | 81,728 | 114,459 | |||
| Restricted cash and investments | 2,024 | 21,436 | 10,389 | ||||||
| Receivables | 167,236 | 162,718 | 168,444 | 136,437 | 137,901 | 122,673 | |||
| Inventory, net of allowances, customer advances and progress billings | 22,367 | 19,360 | 17,839 | 36,245 | 34,498 | 31,921 | |||
| Inventory | 22,367 | 19,360 | 17,839 | 36,245 | 34,498 | 31,921 | |||
| Deferred costs | 4,353 | ||||||||
| Other current assets | 28,380 | 25,234 | 19,577 | 27,929 | 27,673 | 23,640 | |||
| Other undisclosed current assets | 2,949 | ||||||||
| Total current assets: | 319,089 | 348,435 | 355,145 | 266,904 | 281,800 | 292,693 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 297,213 | 304,978 | 303,970 | 534,371 | 550,469 | 602,069 | |||
| Intangible assets, net (including goodwill) | 15,117 | 16,558 | 18,000 | 4,821 | 12,106 | 12,682 | |||
| Goodwill | 6,708 | 6,708 | |||||||
| Intangible assets, net (excluding goodwill) | 15,117 | 16,558 | 18,000 | 4,821 | 5,398 | 5,974 | |||
| Deferred income tax assets | 4,608 | 4,618 | ✕ | ✕ | ✕ | ||||
| Other noncurrent assets | 31,630 | 33,322 | 32,997 | 7,204 | 22,995 | 27,614 | |||
| Other undisclosed noncurrent assets | 4,269 | 15,114 | 1,811 | 2,161 | |||||
| Total noncurrent assets: | 348,568 | 359,476 | 359,236 | 561,510 | 587,381 | 644,526 | |||
| TOTAL ASSETS: | 667,657 | 707,911 | 714,381 | 828,414 | 869,181 | 937,219 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 107,638 | 121,245 | 135,583 | 78,448 | 103,241 | 102,797 | |||
| Taxes payable | 6,352 | 5,021 | 5,013 | 3,385 | 4,212 | 3,457 | |||
| Accounts payable | 39,678 | ||||||||
| Accrued liabilities | 35,385 | ||||||||
| Other undisclosed accounts payable and accrued liabilities | 101,286 | 116,224 | 130,570 | 99,029 | 99,340 | ||||
| Contract with customer, liability | ✕ | ✕ | ✕ | 1,746 | 4,081 | ||||
| Other undisclosed current liabilities | 6,352 | 5,021 | 3,267 | 5,919 | 4,212 | 3,457 | |||
| Total current liabilities: | 113,990 | 126,266 | 140,596 | 88,448 | 107,453 | 106,254 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 177,032 | 211,132 | 210,000 | 579,289 | 578,840 | ||||
| Long-term debt, excluding current maturities | 177,032 | 211,132 | 210,000 | 579,289 | 578,840 | ||||
| Liabilities, other than long-term debt | 21,819 | 21,355 | 20,035 | 11,544 | 12,208 | 10,335 | |||
| Deferred income tax liabilities | 6,491 | 4,554 | ✕ | ✕ | ✕ | ||||
| Other liabilities | 15,328 | 16,801 | 20,035 | 11,544 | 12,208 | 10,335 | |||
| Other undisclosed noncurrent liabilities | 950 | 510 | 60 | 60 | |||||
| Total noncurrent liabilities: | 198,851 | 232,487 | 230,985 | 12,054 | 591,557 | 589,235 | |||
| Total liabilities: | 312,841 | 358,753 | 371,581 | 100,502 | 699,010 | 695,489 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 354,816 | 349,158 | 342,800 | 126,916 | 170,171 | 241,730 | |||
| Preferred stock | 500 | 500 | 500 | ||||||
| Common stock | 1,398 | 1,397 | 1,387 | ||||||
| Additional paid in capital | 345,831 | 344,519 | 342,650 | 766,347 | 765,863 | 766,328 | |||
| Accumulated other comprehensive income (loss) | 205 | (152) | (6,879) | (6,212) | (6,059) | ||||
| Retained earnings (accumulated deficit) | 8,630 | 4,641 | (634,450) | (591,377) | (520,426) | ||||
| Other undisclosed equity, attributable to parent | 150 | 150 | 150 | ||||||
| Other undisclosed equity | 600,996 | ||||||||
| Total equity: | 354,816 | 349,158 | 342,800 | 727,912 | 170,171 | 241,730 | |||
| TOTAL LIABILITIES AND EQUITY: | 667,657 | 707,911 | 714,381 | 828,414 | 869,181 | 937,219 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 160,083 | 156,031 | 157,397 | 129,148 | 123,395 | 118,603 | ||
| Cost of revenue | (131,740) | (127,430) | (137,826) | (129,772) | (106,977) | (110,004) | ||
| Other undisclosed gross profit | (6,075) | (5,610) | (8,147) | 4,439 | (14,486) | (8,766) | ||
| Gross profit: | 22,268 | 22,991 | 11,424 | 3,815 | 1,932 | (167) | ||
| Operating expenses | (6,075) | (5,610) | (8,147) | 4,439 | (14,486) | (8,766) | ||
| Other undisclosed operating loss | (211) | (1,015) | (92,593) | (39,915) | (43,990) | |||
| Operating income (loss): | 15,982 | 16,366 | (89,316) | (31,661) | (56,544) | (8,933) | ||
| Nonoperating expense | (7,014) | (7,933) | (276) | (9,177) | (12,036) | (12,358) | ||
| Interest and debt expense | (211) | (962) | (92,977) | 23,998 | (11,350) | (11,197) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 211 | 962 | 92,977 | (23,998) | 11,350 | 11,197 | ||
| Income (loss) from continuing operations before income taxes: | 8,968 | 8,433 | (89,592) | (40,838) | (68,580) | (21,291) | ||
| Income tax expense | (4,979) | (3,792) | (656) | (2,235) | (2,371) | (1,586) | ||
| Income (loss) from continuing operations: | 3,989 | 4,641 | (90,248) | (43,073) | (70,951) | (22,877) | ||
| Income (loss) before gain (loss) on sale of properties: | 3,989 | 4,641 | (90,248) | (43,073) | (70,951) | (22,877) | ||
| Net income (loss) attributable to parent: | 3,989 | 4,641 | (90,248) | (43,073) | (70,951) | (22,877) | ||
| Preferred stock dividends and other adjustments | (906) | (907) | ||||||
| Net income (loss) available to common stockholders, diluted: | 3,989 | 4,641 | (90,248) | (43,073) | (71,857) | (23,784) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 3,989 | 4,641 | (90,248) | (43,073) | (70,951) | (22,877) | ||
| Comprehensive income (loss): | 3,989 | 4,641 | (90,248) | (43,073) | (70,951) | (22,877) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 357 | (152) | (377) | (667) | (153) | (2,247) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 4,346 | 4,489 | (90,625) | (43,740) | (71,104) | (25,124) | ||
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.