Flotek Industries, Inc. (FTK) financial statements (2022 and earlier)

Company profile

Business Address 8846 N. SAM HOUSTON PARKWAY W.
HOUSTON, TX 77064
State of Incorp. DE
Fiscal Year End December 31
SIC 289 - Miscellaneous Chemical Products (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,53438,660100,5753,0444,584
Cash and cash equivalents11,53438,660100,5753,0444,584
Restricted cash and investments1,790664663  
Receivables13,31912,16716,26940,20848,844
Inventory, net of allowances, customer advances and progress billings9,45411,83721,69727,28975,759
Inventory9,45411,83721,69727,28975,759
Disposal group, including discontinued operation   118,470 
Other current assets3,7403,12713,1915,7719,264
Other undisclosed current assets2,762    
Total current assets:42,59966,455152,395194,782138,451
Noncurrent Assets
Finance lease, right-of-use asset114121 
Operating lease, right-of-use asset2,0412,32016,388
Property, plant and equipment  39,82945,48573,833
Intangible assets, net (including goodwill) 8,092 26,827104,891
Goodwill 8,092  56,660
Intangible assets, net (excluding goodwill)   26,82748,231
Deferred income tax assets279223152
Other noncurrent assets2933 126 
Other undisclosed noncurrent assets5,1828,96623,08318,66312,713
Total noncurrent assets:7,64519,75579,45291,101191,437
TOTAL ASSETS:50,24486,210231,847285,883329,888
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16,69824,11740,78325,35436,680
Accounts payable7,6165,78716,23115,01122,048
Accrued liabilities8,99618,27524,55210,33514,589
Taxes payable421   
Interest and dividends payable8234 843
Debt1,4774,10854149,73127,950
Disposal group, including discontinued operation   9,174 
Other undisclosed current liabilities602636   
Total current liabilities:18,77728,86141,32484,25964,630
Noncurrent Liabilities
Long-term debt and lease obligation11,18410,06117,131  
Long-term debt, excluding current maturities3,3521,617   
Finance lease, liability5396158
Operating lease, liability7,7798,34816,973
Liabilities, other than long-term debt91117116  
Deferred revenue91117 
Deferred income tax liabilities  116
Total noncurrent liabilities:11,27510,17817,247  
Total liabilities:30,05239,03958,57184,25964,630
Stockholders' equity
Stockholders' equity attributable to parent20,19247,171173,276201,624264,900
Common stock88666
Treasury stock, value(34,100)(33,851)(33,484)(33,237)(33,064)
Additional paid in capital363,417359,721347,564343,536336,067
Accumulated other comprehensive income (loss)81(19)(966)(1,116)(884)
Accumulated deficit(309,214)(278,688)(139,844)(107,565)(37,225)
Stockholders' equity attributable to noncontrolling interest    358
Total stockholders' equity:20,19247,171173,276201,624265,258
TOTAL LIABILITIES AND EQUITY:50,24486,210231,847285,883329,888

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues43,26853,141119,353177,773317,098
Revenue, net317,098
Cost of revenue(40,012)(99,896)(159,140)(156,029)(215,129)
Cost of goods and services sold(40,012)(88,266)(149,225)(2,418)(215,129)
Gross profit:3,256(46,755)(39,787)21,744101,969
Operating expenses(34,712)(96,893)(36,838)(91,555)(13,645)
Other undisclosed operating loss    (91,179)
Operating loss:(31,456)(143,648)(76,625)(69,811)(2,855)
Nonoperating income (expense)8901,019(311)(10,846)(1,356)
Other nonoperating income (expense)875031,708(5,040)812
Interest and debt expense881(60)(2,019)(2,866)(2,168)
Other undisclosed income from continuing operations before equity method investments, income taxes 602,0192,8662,168
Loss from continuing operations before equity method investments, income taxes:(29,685)(142,629)(76,936)(80,657)(4,211)
Other undisclosed loss from continuing operations before income taxes(881)    
Loss from continuing operations before income taxes:(30,566)(142,629)(76,936)(80,657)(4,211)
Income tax expense (benefit)406,1792017,216(8,842)
Loss from continuing operations:(30,526)(136,450)(76,735)(73,441)(13,053)
Income from discontinued operations  44,4562,743 
Loss before gain (loss) on sale of properties:(30,526)(136,450)(32,279)(70,698)(13,053)
Unusual or infrequent item, or both, net (gain) loss (57,500)   
Net loss:(30,526)(193,950)(32,279)(70,698)(13,053)
Net income attributable to noncontrolling interest   358 
Other undisclosed net income (loss) attributable to parent 57,500  (14,342)
Net loss available to common stockholders, diluted:(30,526)(136,450)(32,279)(70,340)(27,395)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(30,526)(193,950)(32,279)(70,698)(13,053)
Other undisclosed comprehensive income (loss) 57,300150(232) 
Comprehensive loss:(30,526)(136,650)(32,129)(70,930)(13,053)
Comprehensive income, net of tax, attributable to noncontrolling interest   358 
Other undisclosed comprehensive income (loss), net of tax, attributable to parent100   (14,270)
Comprehensive loss, net of tax, attributable to parent:(30,426)(136,650)(32,129)(70,572)(27,323)

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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