Independence Contract Drilling, Inc. (ICD) financial statements (2021 and earlier)

Company profile

Business Address 20475 STATE HIGHWAY 249
HOUSTON, TX 77070
State of Incorp. DE
Fiscal Year End December 31
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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1251237511
Cash and cash equivalents1251237511
Receivables10364218111819
Prepaid expense4      
Deferred costs0      
Assets held-for-sale, not part of disposal group 92054 
Deferred tax assets    0
Other current assets0      
Other undisclosed current assets17126566
Total current assets:27578631282936
Noncurrent Assets
Property, plant and equipment382458496272273283250
Intangible assets, net (including goodwill)  2    
Goodwill  2    
Other noncurrent assets4311123
Total noncurrent assets:386460499274274285253
TOTAL ASSETS:413517585305302315290
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15394619181933
Accounts payable423161210922
Accrued liabilities11162978107
Employee-related liabilities      3
Taxes payable      2
Debt84110  
Due to related parties 3     
Business combination, contingent consideration, liability 3     
Deferred revenue and credits   1
Other undisclosed current liabilities      (5)
Total current liabilities:22494619181929
Noncurrent Liabilities
Long-term debt and lease obligation, including:13813513049266323
Long-term debt, excluding current maturities13813513049266323
Finance lease, liability57
Operating lease, liability21
Other undisclosed long-term debt and lease obligation(6)(9)     
Liabilities, other than long-term debt, including:61160001
Deferred tax liabilities, net   00
Deferred income tax liabilities11
Other liabilities3      
Business combination, contingent consideration, liability3      
Other undisclosed liabilities, other than long-term debt 1160000
Other undisclosed noncurrent liabilities 111000
Total noncurrent liabilities:14413714750276323
Total liabilities:16618519369458253
Stockholders' equity
Stockholders' equity attributable to parent247332392235257233237
Common stock0110000
Treasury stock, value(4)(4)(3)(2)(2)(1)(1)
Additional paid in capital518505503327324277273
Accumulated deficit(267)(170)(110)(90)(65)(43)(35)
Total stockholders' equity:247332392235257233237
TOTAL LIABILITIES AND EQUITY:413517585305302315290

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues8320414390708870
Cost of revenue(65)(145)(95)(68)(43)(52)(50)
Cost of goods and services sold(65)(145)(95)(68)(43)(52)(50)
Gross profit:18584722273620
Operating expenses(100)(105)(60)(43)(46)(41)(61)
Other undisclosed operating income      8
Operating loss:(82)(46)(12)(21)(19)(5)(33)
Nonoperating income
(Investment Income, Nonoperating)
      3
Interest and debt expense(1)(1)(1)(0)(1)(0)(1)
Loss from continuing operations before equity method investments, income taxes:(83)(47)(13)(21)(19)(5)(31)
Other undisclosed loss from continuing operations before income taxes(14)(14)(7)(3)(3)(3)(1)
Loss from continuing operations before income taxes:(97)(61)(20)(24)(22)(8)(32)
Income tax expense (benefit)00(0)(0)(0)03
Net loss available to common stockholders, diluted:(97)(61)(20)(24)(22)(8)(28)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net loss:(97)(61)(20)(24)(22)(8)(28)
Comprehensive loss, net of tax, attributable to parent:(97)(61)(20)(24)(22)(8)(28)

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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