Superior Energy Services, Inc. (SPN) Financial Statements (2024 and earlier)

Company Profile

Business Address 1001 LOUISIANA STREET, SUITE 2900
HOUSTON, TX 77002
State of Incorp. DE
Fiscal Year End December 31
Industry (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 thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments258,999314,974188,006272,624158,050185,644
Cash and cash equivalents258,999314,974188,006272,624158,050172,000
Short-term investments      13,644
Receivables256,473187,531192,855332,787447,353399,015
Inventory, net of allowances, customer advances and progress billings65,58760,60386,723103,939107,305106,588
Inventory65,58760,60386,723103,939107,305106,588
Prepaid expense17,29915,86136,65149,13245,80242,128
Disposal group, including discontinued operation11,97837,52847,635216,197  
Other current assets6,2766,701 166,761167,502176,160
Other undisclosed current assets  25,7359,418(153,071)(153,107)(148,716)
Total current assets:616,612648,933561,288988,369772,905760,819
Noncurrent Assets
Operating lease, right-of-use asset 18,79725,15450,19280,906
Property, plant and equipment282,376356,274542,090664,9491,109,1261,316,944
Long-term investments and receivables69,67960,58872,61268,09263,99360,149
Accounts and financing receivable, after allowance for credit loss69,67960,58872,61268,09263,99360,149
Intangible assets, net (including goodwill)  8,564145,967146,769218,995924,568
Goodwill   138,677137,695136,788807,860
Intangible assets, net (excluding goodwill)  8,5647,2909,07482,207116,708
Restricted cash and investments80,10879,56180,1782,7645,698 
Disposal group, including discontinued operation, noncurrent assets      10,500
Deferred costs   15,01315,49913,30614,187
Deferred income tax assets97,492   
Other noncurrent assets25,948     
Other undisclosed noncurrent assets  20,43433,73925,88231,93923,058
Total noncurrent assets:574,400550,575939,7911,004,8611,443,0572,349,406
TOTAL ASSETS:1,191,0121,199,5081,501,0791,993,2302,215,9623,110,225
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities148,145159,962186,205275,900359,239341,473
Taxes payable   734 
Accounts payable31,57043,08055,87392,966139,325119,716
Accrued liabilities116,575116,882130,332182,934219,180221,757
Asset retirement obligation9,770 3,7653,6493,53827,261
Disposal group, including discontinued operation   4,07944,938  
Other undisclosed current liabilities15,0315,607   6,463
Total current liabilities:172,946165,569194,049324,487362,777375,197
Noncurrent Liabilities
Long-term debt and lease obligation  19,19340,2581,348,9831,282,9211,279,771
Long-term debt, excluding current maturities    1,286,6291,282,9211,279,771
Liabilities, other than long-term debt235,182273,013269,625270,187279,525322,828
Asset retirement obligations150,901190,380138,981132,632126,558103,136
Deferred tax liabilities, net 61,058
Deferred income tax liabilities 3,38812,4415,2883,247
Other liabilities66,25970,192125,356134,308152,967158,634
Operating lease, liability 14,63419,19340,25862,354
Total noncurrent liabilities:235,182292,206309,8831,619,1701,562,4461,602,599
Total liabilities:408,128457,775503,9321,943,6571,925,2231,977,796
Equity
Equity, attributable to parent, including:782,884741,733(338,647)49,573290,7391,132,429
Common stock   1616155153
Treasury stock, value   (4,290)(4,290)  
Additional paid in capital   2,756,8892,752,8592,735,1252,713,161
Accumulated other comprehensive loss   (67,947)(71,927)(73,177)(67,427)
Retained earnings (accumulated deficit)(125,699)(162,178)(3,023,315)(2,627,085)(2,371,364)(1,513,458)
Other undisclosed equity, attributable to parent908,583903,911    
Other undisclosed equity   1,335,794   
Total equity:782,884741,733997,14749,573290,7391,132,429
TOTAL LIABILITIES AND EQUITY:1,191,0121,199,5081,501,0791,993,2302,215,9623,110,225

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues883,960648,754851,3071,425,3692,130,2651,874,076
Revenue, net1,874,076
Cost of revenue
(Cost of Goods and Services Sold)
(476,951)(422,252)(580,129)(925,082)(1,502,104)(1,398,695)
Gross profit:407,009226,502271,178500,287628,161475,381
Operating expenses(134,669)(140,527)(296,417)(285,411)(1,028,977)(309,662)
Other operating expense, net
(Other Expenses)
  (16,726)    
Other undisclosed operating loss(68,926)(219,859)(146,793)(196,459)(400,848)(438,716)
Operating income (loss):203,414(150,610)(172,032)18,417(801,664)(272,997)
Nonoperating expense
(Other Nonoperating expense)
(1,804)(7,128)(9,229)(2,484)(1,678)(3,299)
Income (loss) from continuing operations before equity method investments, income taxes:201,610(157,738)(181,261)15,933(803,342)(276,296)
Other undisclosed income (loss) from continuing operations before income taxes11,7132,331(114,015)(98,312)(99,477)(101,455)
Income (loss) from continuing operations before income taxes:213,323(155,407)(295,276)(82,379)(902,819)(377,751)
Income tax benefit77,71933,29813,9284,62645,433190,740
Income (loss) from continuing operations:291,042(122,109)(281,348)(77,753)(857,386)(187,011)
Loss before gain (loss) on sale of properties:(162,178)(396,230)(255,721)(858,115)(205,921)
Loss from discontinued operations(4,577)(40,069)(114,882)(177,968)(729)(18,910)
Net income (loss) available to common stockholders, basic:286,465(162,178)(396,230)(255,721)(858,115)(205,921)
Dilutive securities, effect on basic earnings per share  100    
Net income (loss) available to common stockholders, diluted:286,465(162,078)(396,230)(255,721)(858,115)(205,921)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):286,465(162,178)(396,230)(255,721)(858,115)(205,921)
Comprehensive income (loss):286,465(162,178)(396,230)(255,721)(858,115)(205,921)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   3,9801,250(5,750)12,821
Comprehensive income (loss), net of tax, attributable to parent:286,465(162,178)(392,250)(254,471)(863,865)(193,100)

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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