Independence Contract Drilling, Inc. (ICD) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments51237511
Cash and cash equivalents51237511
Receivables364218111819
Assets held-for-sale, not part of disposal group92054 
Deferred tax assets    0
Other undisclosed current assets7126566
Total current assets:578631282936
Noncurrent Assets
Property, plant and equipment458496272273283250
Intangible assets, net (including goodwill) 2    
Goodwill 2    
Other noncurrent assets311123
Total noncurrent assets:460499274274285253
TOTAL ASSETS:517585305302315290
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities394619181933
Accounts payable23161210922
Accrued liabilities162978107
Employee-related liabilities     3
Taxes payable     2
Debt4110  
Due to related parties3     
Business combination, contingent consideration, liability3     
Deferred revenue and credits   1
Other undisclosed current liabilities     (5)
Total current liabilities:494619181929
Noncurrent Liabilities
Long-term debt and lease obligation, including:13513049266323
Long-term debt, excluding current maturities13513049266323
Finance lease, liability7
Operating lease, liability1
Other undisclosed long-term debt and lease obligation(9)     
Liabilities, other than long-term debt, including:1160001
Deferred tax liabilities, net   00
Deferred income tax liabilities1
Other undisclosed liabilities, other than long-term debt1160000
Other undisclosed noncurrent liabilities111000
Total noncurrent liabilities:13714750276323
Total liabilities:18519369458253
Stockholders' equity
Stockholders' equity attributable to parent332392235257233237
Common stock110000
Treasury stock, value(4)(3)(2)(2)(1)(1)
Additional paid in capital505503327324277273
Accumulated deficit(170)(110)(90)(65)(43)(35)
Total stockholders' equity:332392235257233237
TOTAL LIABILITIES AND EQUITY:517585305302315290

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues20414390708870
Cost of revenue(145)(95)(68)(43)(52)(50)
Cost of goods and services sold(145)(95)(68)(43)(52)(50)
Gross profit:584722273620
Operating expenses(105)(60)(43)(46)(41)(61)
Other undisclosed operating income     8
Operating loss:(46)(12)(21)(19)(5)(33)
Nonoperating income
(Investment Income, Nonoperating)
     3
Interest and debt expense(1)(1)(0)(1)(0)(1)
Loss from continuing operations before equity method investments, income taxes:(47)(13)(21)(19)(5)(31)
Other undisclosed loss from continuing operations before income taxes(14)(7)(3)(3)(3)(1)
Loss from continuing operations before income taxes:(61)(20)(24)(22)(8)(32)
Income tax expense (benefit)0(0)(0)(0)03
Net loss available to common stockholders, diluted:(61)(20)(24)(22)(8)(28)

Comprehensive Income ($ in millions)

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