Parker Drilling Company (PKD) financial statements (2022 and earlier)

Company profile

Business Address 5 GREENWAY PLAZA
HOUSTON, TX 77046
State of Incorp. DE
Fiscal Year End December 31
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
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 investments104,951101,106139,099127,84948,60281,728114,459
Cash and cash equivalents104,951101,106139,099127,84948,60281,728114,459
Restricted cash and investments  2,02421,43610,389  
Receivables166,456167,236162,718168,444136,437137,901122,673
Inventory, net of allowances, customer advances and progress billings23,26722,36719,36017,83936,24534,49831,921
Inventory23,26722,36719,36017,83936,24534,49831,921
Deferred costs5,223   4,353  
Other current assets17,68828,38025,23419,57727,92927,67323,640
Other undisclosed current assets2,949   2,949  
Total current assets:320,534319,089348,435355,145266,904281,800292,693
Noncurrent Assets
Property, plant and equipment299,768297,213304,978303,970534,371550,469602,069
Intangible assets, net (including goodwill)13,67515,11716,55818,0004,82112,10612,682
Goodwill     6,7086,708
Intangible assets, net (excluding goodwill)13,67515,11716,55818,0004,8215,3985,974
Deferred income tax assets4,4164,6084,618 
Other noncurrent assets39,68931,63033,32232,9977,20422,99527,614
Other undisclosed noncurrent assets4,766  4,26915,1141,8112,161
Total noncurrent assets:362,314348,568359,476359,236561,510587,381644,526
TOTAL ASSETS:682,848667,657707,911714,381828,414869,181937,219
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:118,116107,638121,245135,58378,448103,241102,797
Accounts payable55,104   39,678  
Accrued liabilities57,954   35,385  
Taxes payable5,0586,3525,0215,0133,3854,2123,457
Other undisclosed accounts payable and accrued liabilities 101,286116,224130,570 99,02999,340
Contract with customer, liability1,7464,081  
Other undisclosed current liabilities 6,3525,0213,2675,9194,2123,457
Total current liabilities:118,116113,990126,266140,59688,448107,453106,254
Noncurrent Liabilities
Long-term debt and lease obligation177,937177,032211,132210,000 579,289578,840
Long-term debt, excluding current maturities177,937177,032211,132210,000 579,289578,840
Liabilities, other than long-term debt32,89421,81921,35520,03511,54412,20810,335
Deferred income tax liabilities7,0026,4914,554 
Other liabilities25,89215,32816,80120,03511,54412,20810,335
Other undisclosed noncurrent liabilities   9505106060
Total noncurrent liabilities:210,831198,851232,487230,98512,054591,557589,235
Total liabilities:328,947312,841358,753371,581100,502699,010695,489
Stockholders' equity
Stockholders' equity attributable to parent, including:353,901354,816349,158342,800126,916170,171241,730
Preferred stock    500500500
Common stock150   1,3981,3971,387
Additional paid in capital347,340345,831344,519342,650766,347765,863766,328
Accumulated other comprehensive income (loss)(98)205(152) (6,879)(6,212)(6,059)
Retained earnings (accumulated deficit)6,5098,6304,641 (634,450)(591,377)(520,426)
Other undisclosed stockholders' equity attributable to parent 150150150   
Other undisclosed stockholders' equity    600,996  
Total stockholders' equity:353,901354,816349,158342,800727,912170,171241,730
TOTAL LIABILITIES AND EQUITY:682,848667,657707,911714,381828,414869,181937,219

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

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 160,083156,031157,397129,148123,395118,603
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: 22,26822,99111,4243,8151,932(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): 15,98216,366(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 21196292,977(23,998)11,35011,197
Income (loss) from continuing operations before income taxes: 8,9688,433(89,592)(40,838)(68,580)(21,291)
Income tax expense (4,979)(3,792)(656)(2,235)(2,371)(1,586)
Net income (loss) attributable to parent: 3,9894,641(90,248)(43,073)(70,951)(22,877)
Preferred stock dividends and other adjustments     (906)(907)
Net income (loss) available to common stockholders, diluted: 3,9894,641(90,248)(43,073)(71,857)(23,784)

Comprehensive Income ($ in thousands)

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): 3,9894,641(90,248)(43,073)(70,951)(22,877)
Comprehensive income (loss): 3,9894,641(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: 4,3464,489(90,625)(43,740)(71,104)(25,124)

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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