Forbes Energy Services LTD (FLSS) financial statements (2020 and earlier)

Company profile

Business Address 3000 SOUTH BUSINESS HIGHWAY 281
ALICE, TX 78332
State of Incorp.
Fiscal Year End December 31
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 millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments58520753526
Cash and cash equivalents58520753526
Restricted cash and investments003028   
Receivables25462417268483
Prepaid expense   88912
Other current assets   1112
Other undisclosed current assets15171201  
Total current assets:45717274112130123
Noncurrent Assets
Finance lease, right-of-use asset14
Operating lease, right-of-use asset6
Property, plant and equipment 149117233277323342
Intangible assets, net (including goodwill)1234123192225
Goodwill 20     
Intangible assets, net (excluding goodwill)1214123192225
Restricted cash and investments    011
Deferred costs    457
Other noncurrent assets1312122
Other undisclosed noncurrent assets111      
Total noncurrent assets:145185130239301354377
TOTAL ASSETS:190256202313412484501
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities25342040213842
Accounts payable9187591927
Accrued liabilities1314119111915
Taxes payable      0
Interest and dividends payable321271  
Debt7259829925119
Due to related parties  000  
Other undisclosed current liabilities1    22
Total current liabilities:999427339465153
Noncurrent Liabilities
Long-term debt and lease obligation, including:6371510283287290
Long-term debt, excluding current maturities6371510283287290
Finance lease, liability5
Operating lease, liability5
Other undisclosed long-term debt and lease obligation(10)      
Liabilities, other than long-term debt0  111822
Deferred tax liabilities, net  111822
Deferred income tax liabilities0
Other undisclosed noncurrent liabilities500    
Total noncurrent liabilities:6871521284304312
Total liabilities:16616579340330355365
Temporary equity, carrying amount   15151515
Stockholders' equity
Stockholders' equity attributable to parent2491123(43)67114121
Common stock0001111
Additional paid in capital151150149193194195194
Accumulated deficit(127)(59)(26)(237)(128)(82)(73)
Total stockholders' equity:2491123(43)67114121
TOTAL LIABILITIES AND EQUITY:190256202313412484501

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues188181 116244450420
Revenue, net181 116244450420
Cost of revenue(208)(68) (104)(118)(213)(182)
Cost of goods and services sold(160)(68) (104)(118)(213)(182)
Gross profit:(20)113 12127236238
Operating expenses(24)(203) (197)(279)(432)(409)
Other undisclosed operating income 68 104118213182
Operating income (loss):(44)(22) (81)(35)1711
Nonoperating income
(Investment Income, Nonoperating)
00 0000
Interest and debt expense(25)(11) (28)(28)(28)(28)
Loss from continuing operations before income taxes:(69)(33) (109)(63)(11)(17)
Income tax expense (benefit)00 (0)1735
Loss from continuing operations:(68)(33) (109)(46)(8)(13)
Loss from discontinued operations      (0)
Net loss attributable to parent:(68)(33) (109)(46)(8)(13)
Preferred stock dividends and other adjustments   (1)(1)(1)(1)
Net loss available to common stockholders, diluted:(68)(33) (110)(47)(9)(14)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net loss:(68)(33) (109)(46)(8)(13)
Comprehensive loss, net of tax, attributable to parent:(68)(33) (109)(46)(8)(13)

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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