Diamondback Energy, Inc. (FANG) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6541041232151121,66720
Cash and cash equivalents6541041232151121,66720
Restricted cash and investments1845  11
Receivables6714376153922321202
Inventory, net of allowances, customer advances and progress billings62333738922
Inventory62333738922
Prepaid expense  20    
Derivative instruments and hedges, assets131462311 5
Other current assets   28153 
Other undisclosed current assets282323(231)(1)080
Total current assets:1,4466028699253591,792109
Noncurrent Assets
Operating lease, right-of-use asset  15
Property, plant and equipment20,61916,21421,83520,3727,3443,3912,598
Oil and gas property, full cost method(5,434)(4,237)(2,995)(1,599)(1,010)(688) 
Long-term investments and receivables613533479    
Long-term investments613533479    
Intangible assets, net (including goodwill)  88   
Intangible assets, net (excluding goodwill)  88   
Derivative instruments and hedges4 7  1 
Deposits noncurrent assets    6121 
Deferred income tax assets4073142
Other noncurrent assets76459086624552
Other undisclosed noncurrent assets5,5344,3893,0811,8041,010688 
Total noncurrent assets:21,45217,01722,66220,6717,4123,5582,650
TOTAL ASSETS:22,89817,61923,53121,5967,7715,3502,758
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities47237348338118710364
Accounts payable3671179128954820
Accrued liabilities436302304253935544
Deferred revenue452237278
Debt451918    
Derivative instruments and hedges, liabilities  27 10023 
Asset retirement obligation51     
Due to related parties     00
Deferred revenue and credits6923 
Other liabilities   892483162 
Other undisclosed current liabilities464434467(253)(262)(101)77
Total current liabilities:1,4381,2361,2631,020577209141
Noncurrent Liabilities
Long-term debt and lease obligation6,6425,6245,3714,4641,4771,106496
Long-term debt, excluding current maturities6,6425,6245,3714,4641,4771,106496
Liabilities, other than long-term debt, including:1,57395511101341613
Asset retirement obligations16610894136201613
Deferred tax liabilities, net1,785108  
Deferred income tax liabilities1,338783 
Other liabilities407     
Derivative instruments and hedges, liabilities2957 156  
Other undisclosed liabilities, other than long-term debt  (83)(1,926)   
Other undisclosed noncurrent liabilities  1,9801,936   
Total noncurrent liabilities:8,2156,5797,3626,4101,6121,122508
Total liabilities:9,6537,8158,6257,4292,1891,331649
Stockholders' equity
Stockholders' equity attributable to parent, including:12,0888,79413,24913,6995,2553,6971,876
Additional paid in capital14,08412,65612,35712,9365,2914,2162,230
Accumulated other comprehensive loss   (0)   
Retained earnings (accumulated deficit)(1,998)(3,864)890762(37)(519)(354)
Other undisclosed stockholders' equity attributable to parent2222111
Stockholders' equity attributable to noncontrolling interest1,1571,0101,657467327321233
Total stockholders' equity:13,2459,80414,90614,1665,5824,0182,109
TOTAL LIABILITIES AND EQUITY:22,89817,61923,53121,5967,7715,3502,758

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues6,7972,8133,9642,1761,205527447
Revenue, net1,205527447
Loss on disposition of assets for financial service operations(1,225)  (120)
Cost of revenue(2,635)(2,169)(2,365)(1,092)(550)(307)(82)
Cost of goods and services sold    (150)(94)(82)
Gross profit:4,1626441,5991,084655221364
Operating expenses(161)(6,120)(904)(73)(50)(289)(1,187)
Other undisclosed operating income      82
Operating income (loss):4,001(5,476)6951,011605(69)(740)
Nonoperating income (expense)(1,094)(300)(333)102(108)(96)(9)
Investment income, nonoperating(825)(90)(103)101(78)(25) 
Other nonoperating income (expense) 2(2)891031
Interest and debt expense(199)(197)(173)(88)(41)(41)(42)
Other undisclosed income from continuing operations before equity method investments, income taxes      42
Income (loss) from continuing operations before equity method investments, income taxes:2,708(5,973)1891,025456(206)(749)
Other undisclosed income from continuing operations before income taxes199197173884141 
Income (loss) from continuing operations before income taxes:2,907(5,776)3621,113497(165)(749)
Income tax expense (benefit)(631)1,104(47)(168)20(0)201
Net income (loss):2,276(4,672)315945517(165)(548)
Net income (loss) attributable to noncontrolling interest(94)155(75)(99)(34)(0)(3)
Net income (loss) available to common stockholders, diluted:2,182(4,517)240846482(165)(551)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):2,276(4,672)315945517(165)(548)
Other comprehensive loss   (0)   
Comprehensive income (loss):2,276(4,672)315945517(165)(548)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(94)155(75)(99)(34)(0)(3)
Other undisclosed comprehensive income, net of tax, attributable to parent   99   
Comprehensive income (loss), net of tax, attributable to parent:2,182(4,517)240945482(165)(551)

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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