Hercules Offshore Inc (HERO) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
9 GREENWAY PLAZA, HOUSTON, TX 77046 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1381 - Drilling Oil and Gas Wells (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 207,937 | 198,406 | 259,193 | |||
| Cash and cash equivalents | 207,937 | 198,406 | 259,193 | |||
| Receivables | 166,359 | 220,139 | 167,936 | |||
| Prepaid expense | 19,585 | 20,395 | ✕ | |||
| Deferred costs | 7,653 | |||||
| Prepaid expense and other current assets | ✕ | ✕ | ✕ | 28,326 | ||
| Other current assets | 5,955 | 17,363 | ✕ | |||
| Other undisclosed current assets | 4,461 | 10,876 | 15,499 | |||
| Total current assets: | 404,297 | 467,179 | 478,607 | |||
| Noncurrent Assets | ||||||
| Property, plant and equipment | 1,574,749 | 1,808,526 | 1,462,755 | |||
| Long-term investments and receivables | 38,191 | |||||
| Long-term investments | 38,191 | |||||
| Deferred costs | 12,100 | |||||
| Other noncurrent assets | 23,361 | 25,743 | ✕ | |||
| Prepaid expense and other noncurrent assets | ✕ | ✕ | ✕ | 37,077 | ||
| Other undisclosed noncurrent assets | (12,100) | |||||
| Total noncurrent assets: | 1,598,110 | 1,834,269 | 1,538,023 | |||
| TOTAL ASSETS: | 2,002,407 | 2,301,448 | 2,016,630 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 176,510 | 198,030 | 192,420 | |||
| Interest and dividends payable | 32,008 | |||||
| Taxes payable | 16,958 | |||||
| Employee-related liabilities | 25,460 | 36,512 | 34,066 | |||
| Accounts payable | 52,952 | 80,018 | 58,615 | |||
| Accrued liabilities | 66,090 | 81,500 | 82,781 | |||
| Debt | 9,568 | 76,177 | ||||
| Deferred revenue and credits | 9,439 | 21,480 | 14,546 | |||
| Other liabilities | 13,406 | 35,735 | 26,483 | |||
| Other undisclosed current liabilities | (34,899) | (24,925) | (48,203) | |||
| Total current liabilities: | 164,456 | 239,888 | 261,423 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 1,210,919 | 1,210,676 | 798,013 | |||
| Long-term debt, excluding current maturities | 1,210,919 | 1,210,676 | 798,013 | |||
| Liabilities, other than long-term debt | 12,001 | 27,184 | 74,432 | |||
| Deferred tax liabilities, net | 4,147 | 14,452 | 56,821 | |||
| Other liabilities | 7,854 | 12,732 | 17,611 | |||
| Total noncurrent liabilities: | 1,222,920 | 1,237,860 | 872,445 | |||
| Total liabilities: | 1,387,376 | 1,477,748 | 1,133,868 | |||
| Equity | ||||||
| Equity, attributable to parent | 615,031 | 823,700 | 882,762 | |||
| Common stock | 1,635 | 1,621 | 1,607 | |||
| Treasury stock, value | (56,765) | (55,165) | (53,100) | |||
| Additional paid in capital | 2,179,838 | 2,170,811 | 2,159,744 | |||
| Accumulated deficit | (1,509,677) | (1,293,567) | (1,225,489) | |||
| Total equity: | 615,031 | 823,700 | 882,762 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,002,407 | 2,301,448 | 2,016,630 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|
| Revenues (Revenue, Net) | 900,251 | 858,300 | 709,792 | ||
| Cost of revenue | (731,105) | (560,908) | (642,397) | ||
| Gross profit: | 169,146 | 297,392 | 67,395 | ||
| Operating expenses | (257,645) | (245,960) | (130,972) | ||
| Operating income (loss): | (88,499) | 51,432 | (63,577) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (39) | (1,518) | 1,896 | ||
| Interest and debt expense | (101,042) | (82,260) | (81,910) | ||
| Loss from continuing operations before equity method investments, income taxes: | (189,580) | (32,346) | (143,591) | ||
| Other undisclosed loss from continuing operations before income taxes | (18,025) | (5,407) | (6,418) | ||
| Loss from continuing operations before income taxes: | (207,605) | (37,753) | (150,009) | ||
| Income tax expense (benefit) | (8,505) | 10,944 | 23,005 | ||
| Loss from continuing operations: | (216,110) | (26,809) | (127,004) | ||
| Loss before gain (loss) on sale of properties: | (216,110) | (24,222) | (127,004) | ||
| Income from discontinued operations | 2,587 | ||||
| Other undisclosed net loss | (43,895) | ||||
| Net loss: | (216,110) | (68,117) | (127,004) | ||
| Net income attributable to noncontrolling interest | 39 | ||||
| Net loss available to common stockholders, diluted: | (216,110) | (68,078) | (127,004) | ||
Comprehensive Income ($ in thousands)
| 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|
| Net loss: | (216,110) | (68,117) | (127,004) | ||
| Comprehensive loss: | (216,110) | (68,117) | (127,004) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (39) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (216,110) | (68,156) | (127,004) | ||
Statements Sources
The financial statements are based on the Company's filings with 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.