Helmerich & Payne, Inc. (HP) financial statements (2021 and earlier)

Company profile

Business Address 1437 S. BOULDER AVE., SUITE 1400
TULSA, OK 74119
State of Incorp. DE
Fiscal Year End September 30
SIC 1381 - Drilling Oil and Gas Wells (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:524577401326566950764
Cash and cash equivalents374488348284521906718
Short-term investments150895341444446
Other undisclosed cash, cash equivalents, and short-term investments(0)(0)     
Restricted cash and investments 463140322830
Receivables234193496565477375449
Inventory, net of allowances, customer advances and progress billings99104150158137124129
Inventory99104150158137124129
Prepaid expense 966468
Disposal group, including discontinued operation    008
Assets held-for-sale, not part of disposal group     45 
Other current assets 13528915
Other undisclosed current assets96222718103636
Total current assets:9539631,1151,1161,2351,5731,439
Noncurrent Assets
Operating lease, right-of-use asset4345 
Property, plant and equipment3,5523,6464,5024,8575,0015,1455,567
Long-term investments and receivables343232998485104
Long-term investments343232998485104
Intangible assets, net (including goodwill)125127170138102  
Goodwill4646836552  
Intangible assets, net (excluding goodwill)7981877351  
Restricted cash and investments      2
Other noncurrent assets2017215173041
Other undisclosed noncurrent assets      (2)
Total noncurrent assets:3,7743,8664,7245,0995,2055,2595,713
TOTAL ASSETS:4,7274,8305,8406,2156,4406,8327,152
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities228219410377344330384
Accounts payable473612313313695111
Accrued liabilities154155287245209235198
Employee-related liabilities      36
Taxes payable      39
Interest and dividends payable2727     
Debt      39
Liability for uncertainty in income taxes      7
Disposal group, including discontinued operation    003
Self insurance reserve      11
Deferred revenue and credits  43
Other undisclosed current liabilities      (135)
Total current liabilities:228219410377344330351
Noncurrent Liabilities
Long-term debt and lease obligation481481479494493492492
Long-term debt, excluding current maturities481481479494493492492
Liabilities, other than long-term debt7928119389611,4381,4491,459
Deferred tax liabilities, net8531,3331,3421,295
Deferred income tax liabilities635651807
Liability for uncertainty in income taxes      18
Liability, pension and other postretirement and postemployment benefits      9
Disposal group, including discontinued operation, liabilities6131514445
Other liabilities15114711694101103111
Self insurance reserve      21
Other undisclosed noncurrent liabilities      (48)
Total noncurrent liabilities:1,2741,2921,4171,4551,9311,9411,903
Total liabilities:1,5021,5111,8271,8322,2752,2712,255
Stockholders' equity
Stockholders' equity attributable to parent3,2253,3194,0124,3834,1654,5614,897
Common stock11111111111111
Treasury stock, value(184)(198)(195)(173)(192)(188)(182)
Additional paid in capital512522510500487448420
Accumulated other comprehensive income (loss)(26)(26)(29)172(0)(1)
Retained earnings2,9113,0103,7144,0283,8564,2904,650
Total stockholders' equity:3,2253,3194,0124,3834,1654,5614,897
TOTAL LIABILITIES AND EQUITY:4,7274,8305,8406,2156,4406,8327,152

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

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
Revenues1,4061,7742,7982,4871,8051,6243,165
Revenue, net2,4871,8051,6243,165
Cost of revenue(1,443)(1,660)(2,361)(2,220)(1,830)(1,499)(2,305)
Cost of goods and services sold(984)(1,185)(1,803)    
Gross profit:(38)114437268(25)125860
Operating expenses(707)(734)(417)(236)(147)(151)(185)
Operating income (loss):(745)(620)2132(173)(26)676
Nonoperating expense(33)(16)(72)(16)(12)(47)(10)
Investment income, nonoperating(2)14(45)86(23)6
Foreign currency transaction gain, before tax      3
Other nonoperating income (expense)(6)(5)(2)02(1)(1)
Interest and debt expense(25)(24)(25)(24)(20)(23)(15)
Income (loss) from continuing operations before equity method investments, income taxes:(802)(661)(76)(8)(204)(96)651
Other undisclosed income from continuing operations before income taxes25242524202315
Income (loss) from continuing operations before income taxes:(777)(636)(51)16(185)(73)666
Income tax expense (benefit)172140194775720(243)
Income (loss) from continuing operations:(605)(496)(33)493(128)(53)422
Income (loss) from discontinued operations102(1)(10)(0)(4)(0)
Net income (loss) attributable to parent:(596)(494)(34)483(128)(57)422
Undistributed earnings (loss) allocated to participating securities, basic(2)(3)(3)(4)(2)
Other undisclosed net loss available to common stockholders, basic     (2)(2)
Net income (loss) available to common stockholders, basic:(598)(497)(37)478(130)(59)420
Dilutive securities, effect on basic earnings per share   0  0
Net income (loss) available to common stockholders, diluted:(598)(497)(37)478(130)(59)420

Comprehensive Income ($ in millions)

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
Net income (loss):(596)(494)(34)483(128)(57)422
Comprehensive income (loss):(596)(494)(34)483(128)(57)422
Other undisclosed comprehensive income (loss), net of tax, attributable to parent22(12)1431(85)
Comprehensive income (loss), net of tax, attributable to parent:(593)(492)(46)497(126)(56)338

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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