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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3334525385174148
Cash and cash equivalents3334525385174148
Restricted cash and investments000110 
Receivables3026192144114299
Inventory, net of allowances, customer advances and progress billings12141515335157
Inventory12141515335157
Deferred tax assets    (6)(12)
Other undisclosed current assets185245223442(63)
Total current assets:93126131112197375429
Noncurrent Assets
Operating lease, right-of-use asset33
Property, plant and equipment 135267727047
Long-term investments and receivables      54
Long-term investments      54
Intangible assets, net (including goodwill)24232625313467
Goodwill24232422262756
Intangible assets, net (excluding goodwill)  235711
Deferred income tax assets9
Other noncurrent assets221361115
Deferred tax assets, net    914
Other undisclosed noncurrent assets748191106132119239
Total noncurrent assets:141119170202242242436
TOTAL ASSETS:233245301313438617865
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities8066645364144143
Accounts payable49352527303723
Accrued liabilities30313926346584
Employee-related liabilities     3330
Taxes payable     96
Deferred revenue5
Debt224015886
Deferred revenue and credits947821
Deferred tax liabilities    612
Other undisclosed current liabilities3037272425(13)(1)
Total current liabilities:11610614095104153180
Noncurrent Liabilities
Long-term debt and lease obligation, including:119120117144178183214
Operating lease, liability31
Other undisclosed long-term debt and lease obligation89120117144178183214
Liabilities, other than long-term debt112142144144211
Other liabilities112142144144211
Other undisclosed noncurrent liabilities31      
Total noncurrent liabilities:152131131165223327425
Total liabilities:268237270260326480605
Stockholders' equity
Stockholders' equity attributable to parent(37)63053112136258
Common stock0000022
Treasury stock, value    (9)(7)(7)
Additional paid in capital957953903899895888880
Accumulated other comprehensive loss(19)(20)(19)(22)(15)(13)(11)
Accumulated deficit(974)(926)(855)(825)(760)(734)(606)
Stockholders' equity attributable to noncontrolling interest2211000
Total stockholders' equity:(35)83153112136258
Other undisclosed liabilities and equity     22
TOTAL LIABILITIES AND EQUITY:233245301313438617865

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues175180198173222510549
Revenue, net198173222510549
Cost of revenue
(Cost of Goods and Services Sold)
(115)(120)(122)(137)(214)(447)(390)
Gross profit:60607636862159
Operating expenses(84)(114)(84)(79)(109)(180)(143)
Operating income (loss):(24)(54)(9)(43)(101)(118)16
Nonoperating income (expense)(2)(0)(4)19885(184)
Other nonoperating income (expense)(2)(0)(4)19880(183)
Interest and debt expense   (2)   
Loss from continuing operations before equity method investments, income taxes:(26)(55)(13)(44)(2)(33)(167)
Loss from equity method investments     (19)(42)
Other undisclosed loss from continuing operations before income taxes(13)(13)(17)(16)(19)(55)(11)
Loss from continuing operations before income taxes:(39)(68)(29)(60)(21)(107)(221)
Income tax expense(8)(3)(0)(4)(4)(21)(26)
Net loss:(47)(70)(29)(65)(25)(128)(247)
Net income (loss) attributable to noncontrolling interest(1)(1)(1)(0)0(1)1
Net loss attributable to parent:(48)(71)(30)(65)(25)(128)(246)
Other undisclosed net loss available to common stockholders, basic      (6)
Net loss available to common stockholders, diluted:(48)(71)(30)(65)(25)(128)(252)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net loss:(47)(70)(29)(65)(25)(128)(247)
Other comprehensive income (loss)  3(7)(2)(2)1
Other undisclosed comprehensive income (loss)1(2)     
Comprehensive loss:(46)(72)(27)(72)(27)(129)(246)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(1)(1)(0)0(1)(1)
Other undisclosed comprehensive income, net of tax, attributable to parent      1
Comprehensive loss, net of tax, attributable to parent:(47)(73)(27)(72)(27)(130)(245)

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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