W&T Offshore, Inc. (WTI) financial statements (2021 and earlier)

Company profile

Business Address 5718 WESTHEIMER RD
HOUSTON, TX 77057-5745
State of Incorp. TX
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments44323399708524
Cash and cash equivalents44323399708524
Receivables50791177810757111
Prepaid expense61812966 
Derivative instruments and hedges, assets3761  10 
Deferred tax assets    12
Other current assets011233 
Other undisclosed current assets54335736
Total current assets:107142226191192169183
Noncurrent Assets
Nontrade receivables   5252  
Property, plant and equipment6877495155795479902,494
Oil and gas property, full cost method      8,046
Restricted cash and investments30161625271615
Deferred income tax assets9464
Other noncurrent assets2233926011517
Other undisclosed noncurrent assets     28(8,046)
Total noncurrent assets:8338626237176381,0392,527
TOTAL ASSETS:9411,0048499088301,2082,709
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7913311210290122211
Accounts payable49102828481110194
Accrued liabilities3031301891217
Taxes payable0      
Debt   238  
Asset retirement obligation17222524788436
Other undisclosed current liabilities19355020262137
Total current liabilities:115190186168203227284
Noncurrent Liabilities
Long-term debt and lease obligation6257206349691,0121,1971,360
Long-term debt, excluding current maturities6257206349691,0121,1971,360
Liabilities, other than long-term debt409344354344273310555
Asset retirement obligations376334285277256294355
Deferred tax liabilities, net    187
Deferred income tax liabilities0 
Other liabilities33106967171614
Total noncurrent liabilities:1,0341,0639871,3131,2861,5071,915
Total liabilities:1,1491,2531,1741,4811,4891,7352,200
Stockholders' equity
Stockholders' equity attributable to parent(208)(249)(325)(574)(659)(526)509
Common stock0000000
Treasury stock, value(24)(24)(24)(24)(24)(24)(24)
Additional paid in capital550547546546540423415
Retained earnings (accumulated deficit)(734)(772)(846)(1,095)(1,175)(926)119
Total stockholders' equity:(208)(249)(325)(574)(659)(526)509
TOTAL LIABILITIES AND EQUITY:9411,0048499088301,2082,709

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues347535581487400507949
Cost of revenue(257)(401)(254)(299)(374)(572)(940)
Cost of goods and services sold   (164)(175)(210)(285)
Gross profit:8913332718826(65)9
Operating expenses(65)(75)(80)(78)(356)(1,081)54
Operating income (loss):2559247110(331)(1,146)62
Nonoperating income (expense)(3)(0)4(5)7(5)4
Investment income, nonoperating      4
Other nonoperating income (expense)(3)(0)4(5)7(5)0
Interest and debt expense(14)(60)478124(3) 
Income (loss) from continuing operations before equity method investments, income taxes:8(1)298113(200)(1,154)66
Other undisclosed loss from continuing operations before income taxes  (49)(46)(92)(94)(82)
Income (loss) from continuing operations before income taxes:8(1)24967(292)(1,248)(16)
Income tax expense (benefit)3075(1)13432034
Net income (loss) attributable to parent:387424980(249)(1,045)(12)
Other undisclosed net loss available to common stockholders, basic(0)(1)(10)(3)  (0)
Net income (loss) available to common stockholders, diluted:377323976(249)(1,045)(12)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):387424980(249)(1,045)(12)
Comprehensive income (loss), net of tax, attributable to parent:387424980(249)(1,045)(12)

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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