Ion Geophysical Corporation (IO) financial statements (2021 and earlier)

Company profile

Business Address 2105 CITYWEST BLVD
HOUSTON, TX 770422855
State of Incorp. DE
Fiscal Year End December 31
SIC 1382 - Oil and Gas Field Exploration Services (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 investments373334525385174
Cash and cash equivalents373334525385174
Restricted cash and investments2000110
Receivables83026192144114
Inventory, net of allowances, customer advances and progress billings11121415153351
Inventory11121415153351
Contract with customer, asset11  
Deferred tax assets    (6)
Other undisclosed current assets5185245223442
Total current assets:7593126131112197375
Noncurrent Assets
Operating lease, right-of-use asset3633
Property, plant and equipment  1352677270
Intangible assets, net (including goodwill)20242326253134
Goodwill20242324222627
Intangible assets, net (excluding goodwill)   2357
Deferred income tax assets 9
Other noncurrent assets32213611
Deferred tax assets, net    9
Other undisclosed noncurrent assets60748191106132119
Total noncurrent assets:118141119170202242242
TOTAL ASSETS:194233245301313438617
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities508066645364144
Accounts payable33493525273037
Accrued liabilities16303139263465
Employee-related liabilities      33
Taxes payable      9
Deferred revenue45
Debt14422401588
Deferred revenue and credits9478
Deferred tax liabilities    6
Other undisclosed current liabilities293037272425(13)
Total current liabilities:22611610614095104153
Noncurrent Liabilities
Long-term debt and lease obligation, including:38119120117144178183
Operating lease, liability3831
Other undisclosed long-term debt and lease obligation 89120117144178183
Liabilities, other than long-term debt0112142144144
Other liabilities0112142144144
Other undisclosed noncurrent liabilities 31     
Total noncurrent liabilities:39152131131165223327
Total liabilities:265268237270260326480
Stockholders' equity
Stockholders' equity attributable to parent(73)(37)63053112136
Common stock0000002
Treasury stock, value     (9)(7)
Additional paid in capital959957953903899895888
Accumulated other comprehensive loss(20)(19)(20)(19)(22)(15)(13)
Accumulated deficit(1,012)(974)(926)(855)(825)(760)(734)
Stockholders' equity attributable to noncontrolling interest2221100
Total stockholders' equity:(71)(35)83153112136
Other undisclosed liabilities and equity      2
TOTAL LIABILITIES AND EQUITY:194233245301313438617

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
Revenues123175180198173222510
Revenue, net198173222510
Cost of revenue(3)(115)(120)(122)(137)(214)(447)
Cost of goods and services sold(0)(115)(120)(122)(137)(214)(447)
Provision for loan, lease, and other losses(2)  
Other undisclosed gross profit(78)      
Gross profit:4260607636862
Operating expenses(56)(84)(114)(84)(79)(109)(180)
Operating loss:(15)(24)(54)(9)(43)(101)(118)
Nonoperating income (expense)7(2)(0)(4)19885
Foreign currency transaction loss, before tax(2)     (2)
Other nonoperating income (expense) (2)(0)(4)19880
Interest and debt expense    (2)  
Loss from continuing operations before equity method investments, income taxes:(8)(26)(55)(13)(44)(2)(33)
Loss from equity method investments      (19)
Other undisclosed loss from continuing operations before income taxes(14)(13)(13)(17)(16)(19)(55)
Loss from continuing operations before income taxes:(21)(39)(68)(29)(60)(21)(107)
Income tax expense(16)(8)(3)(0)(4)(4)(21)
Net loss:(37)(47)(70)(29)(65)(25)(128)
Net income (loss) attributable to noncontrolling interest(0)(1)(1)(1)(0)0(1)
Net loss available to common stockholders, diluted:(37)(48)(71)(30)(65)(25)(128)

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:(37)(47)(70)(29)(65)(25)(128)
Other comprehensive income (loss)(1)  3(7)(2)(2)
Other undisclosed comprehensive income (loss) 1(2)    
Comprehensive loss:(38)(46)(72)(27)(72)(27)(129)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest0(1)(1)(1)(0)0(1)
Comprehensive loss, net of tax, attributable to parent:(38)(47)(73)(27)(72)(27)(130)

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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