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)

9/30/2019
TTM
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 investments68520753526
Cash and cash equivalents68520753526
Restricted cash and investments003028   
Receivables30462417268483
Prepaid expense8  88912
Other current assets   1112
Other undisclosed current assets2171201  
Total current assets:46717274112130123
Noncurrent Assets
Operating lease, right-of-use asset7
Property, plant and equipment131149117233277323342
Intangible assets, net (including goodwill)1334123192225
Goodwill 20     
Intangible assets, net (excluding goodwill)1314123192225
Restricted cash and investments    011
Deferred costs    457
Other noncurrent assets1312122
Total noncurrent assets:152185130239301354377
TOTAL ASSETS:199256202313412484501
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities25342040213842
Accounts payable8187591927
Accrued liabilities1514119111915
Taxes payable      0
Interest and dividends payable221271  
Debt6259829925119
Due to related parties  000  
Other undisclosed current liabilities2    22
Total current liabilities:899427339465153
Noncurrent Liabilities
Long-term debt and lease obligation6671510283287290
Long-term debt, excluding current maturities6671510283287290
Finance lease, liability6
Operating lease, liability5
Other undisclosed long-term debt and lease obligation(11)      
Liabilities, other than long-term debt   111822
Deferred tax liabilities, net  111822
Other undisclosed noncurrent liabilities500    
Total noncurrent liabilities:7171521284304312
Total liabilities:16016579340330355365
Temporary equity, carrying amount   15151515
Stockholders' equity
Stockholders' equity attributable to parent3991123(43)67114121
Common stock0001111
Additional paid in capital151150149193194195194
Accumulated deficit(112)(59)(26)(237)(128)(82)(73)
Total stockholders' equity:3991123(43)67114121
TOTAL LIABILITIES AND EQUITY:199256202313412484501

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues335181 116244450420
Revenue, net181 116244450420
Cost of revenue
(Cost of Goods and Services Sold)
 (68) (104)(118)(213)(182)
Gross profit:154113 12127236238
Operating expenses(188)(203) (197)(279)(432)(409)
Other undisclosed operating income 68 104118213182
Operating income (loss):(34)(22) (81)(35)1711
Nonoperating income
(Investment Income, Nonoperating)
00 0000
Interest and debt expense(19)(11) (28)(28)(28)(28)
Loss from continuing operations before income taxes:(53)(33) (109)(63)(11)(17)
Income tax expense (benefit)00 (0)1735
Loss from continuing operations:(53)(33) (109)(46)(8)(13)
Loss from discontinued operations      (0)
Net loss attributable to parent:(53)(33) (109)(46)(8)(13)
Preferred stock dividends and other adjustments   (1)(1)(1)(1)
Net loss available to common stockholders, diluted:(53)(33) (110)(47)(9)(14)

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net loss:(53)(33) (109)(46)(8)(13)
Comprehensive loss, net of tax, attributable to parent:(53)(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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