Diamondback Energy, Inc. (FANG) financial statements (2021 and earlier)

Company profile

Business Address 500 WEST TEXAS
MIDLAND, TX 79701
State of Incorp. DE
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 investments1041232151121,6672030
Cash and cash equivalents1041232151121,6672030
Restricted cash and investments45  111
Receivables437615392232120298
Inventory, net of allowances, customer advances and progress billings3337389223
Inventory3337389223
Prepaid expense 20     
Derivative instruments and hedges, assets1462311 5116
Other current assets  28153 120
Other undisclosed current assets2323(231)(1)080(116)
Total current assets:6028699253591,792109252
Noncurrent Assets
Operating lease, right-of-use asset 15
Property, plant and equipment16,21421,83520,3727,3443,3912,5982,792
Oil and gas property, full cost method(4,237)(2,995)(1,599)(1,010)(688) 3,119
Long-term investments and receivables533479     
Long-term investments533479     
Intangible assets, net (including goodwill) 88    
Intangible assets, net (excluding goodwill) 88    
Derivative instruments and hedges 7  1 2
Deposits noncurrent assets   6121  
Deferred income tax assets73142
Other noncurrent assets45908662455250
Deferred tax assets, net    52
Other undisclosed noncurrent assets4,3893,0811,8041,010688 (3,171)
Total noncurrent assets:17,01722,66220,6717,4123,5582,6502,844
TOTAL ASSETS:17,61923,53121,5967,7715,3502,7583,095
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3734833811871036486
Accounts payable7117912895482026
Accrued liabilities30230425393554441
Taxes payable      10
Interest and dividends payable      9
Deferred revenue237278
Debt1918     
Derivative instruments and hedges, liabilities 27 10023  
Asset retirement obligation1     0
Due to related parties    00 
Deferred revenue and credits6923  
Deferred tax liabilities    40
Other liabilities  892483162 240
Other undisclosed current liabilities434467(253)(262)(101)77(100)
Total current liabilities:1,2361,2631,020577209141267
Noncurrent Liabilities
Long-term debt and lease obligation5,6245,3714,4641,4771,106496674
Long-term debt, excluding current maturities5,6245,3714,4641,4771,106496674
Liabilities, other than long-term debt, including:95511101341613170
Asset retirement obligations108941362016138
Deferred tax liabilities, net1,785108  162
Deferred income tax liabilities783 
Other liabilities7      
Derivative instruments and hedges, liabilities57 156   
Other undisclosed liabilities, other than long-term debt (83)(1,926)    
Other undisclosed noncurrent liabilities 1,9801,936    
Total noncurrent liabilities:6,5797,3626,4101,6121,122508844
Total liabilities:7,8158,6257,4292,1891,3316491,110
Stockholders' equity
Stockholders' equity attributable to parent, including:8,79413,24913,6995,2553,6971,8761,751
Additional paid in capital12,65612,35712,9365,2914,2162,2301,554
Accumulated other comprehensive loss  (0)    
Retained earnings (accumulated deficit)(3,864)890762(37)(519)(354)196
Other undisclosed stockholders' equity attributable to parent2221111
Stockholders' equity attributable to noncontrolling interest1,0101,657467327321233234
Total stockholders' equity:9,80414,90614,1665,5824,0182,1091,985
TOTAL LIABILITIES AND EQUITY:17,61923,53121,5967,7715,3502,7583,095

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
Revenues2,8133,9642,1761,205527447496
Revenue, net1,205527447496
Cost of revenue(2,169)(2,365)(1,092)(550)(307)(82)(56)
Cost of goods and services sold   (150)(94)(82)(56)
Gross profit:6441,5991,084655221364440
Operating expenses(6,120)(904)(73)(50)(289)(1,187)(283)
Other undisclosed operating income     8256
Operating income (loss):(5,476)6951,011605(69)(740)213
Nonoperating income (expense)(300)(333)102(108)(96)(9)92
Investment income, nonoperating(90)(103)101(78)(25) 117
Other nonoperating income (expense)2(2)891031(1)
Interest and debt expense(197)(173)(88)(41)(41)(42)(35)
Other undisclosed income from continuing operations before equity method investments, income taxes     4235
Income (loss) from continuing operations before equity method investments, income taxes:(5,973)1891,025456(206)(749)305
Other undisclosed income from continuing operations before income taxes197173884141  
Income (loss) from continuing operations before income taxes:(5,776)3621,113497(165)(749)305
Income tax expense (benefit)1,104(47)(168)20(0)201(109)
Net income (loss):(4,672)315945517(165)(548)196
Net income (loss) attributable to noncontrolling interest155(75)(99)(34)(0)(3)(2)
Net income (loss) available to common stockholders, diluted:(4,517)240846482(165)(551)194

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):(4,672)315945517(165)(548)196
Other comprehensive loss  (0)    
Comprehensive income (loss):(4,672)315945517(165)(548)196
Comprehensive income (loss), net of tax, attributable to noncontrolling interest155(75)(99)(34)(0)(3)(2)
Other undisclosed comprehensive income, net of tax, attributable to parent  99    
Comprehensive income (loss), net of tax, attributable to parent:(4,517)240945482(165)(551)194

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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