Key Energy Services, Inc. (KEG) financial statements (2021 and earlier)

Company profile

Business Address 1301 MCKINNEY STREET
HOUSTON, TX 77010
State of Incorp. DE
Fiscal Year End December 31
SIC 1389 - Oil and Gas Field Services, Not Elsewhere Classified (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 investments145073912042728
Cash and cash equivalents145073912042728
Restricted cash and investments0 425   
Receivables51746971116317349
Inventory, net of allowances, customer advances and progress billings14162122293032
Inventory14162122293032
Prepaid expense     28 
Prepaid expense and other current assets125
Other current assets221819267187 
Other undisclosed current assets     (55)(28)
Total current assets:102158187235420434506
Noncurrent Assets
Property, plant and equipment2282763274058801,2351,366
Long-term investments and receivables     11
Long-term investments     11
Intangible assets, net (including goodwill)00016597666
Goodwill     583625
Intangible assets, net (excluding goodwill)000161541
Deposits noncurrent assets     102
Estimated insurance recoveries131315161719
Deferred costs    181114
Other noncurrent assets18915182156 
Prepaid expense and other noncurrent assets33
Deferred tax assets, net    3522
Other undisclosed noncurrent assets(13)(13)(15)(16)(35)(65)(22)
Total noncurrent assets:2462853424239071,9002,081
TOTAL ASSETS:3484435296581,3282,3332,587
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities914141031315301
Accounts payable9141410317859
Accrued liabilities     164170
Employee-related liabilities     3235
Taxes payable     2637
Interest and dividends payable     15 
Debt      4
Self insurance reserve     3132
Other liabilities918788104121164170
Other undisclosed current liabilities33333(269)(274)
Total current liabilities:102103104117154242232
Noncurrent Liabilities
Long-term debt and lease obligation240241243245962748764
Long-term debt, excluding current maturities240241243245962748764
Liabilities, other than long-term debt3128283045274302
Accounts payable and accrued liabilities312828303133 
Accrued income taxes6
Asset retirement obligations     1312
Deferred tax liabilities, net  014228284
Other undisclosed noncurrent liabilities26252523261138
Total noncurrent liabilities:2972942972991,0331,0341,104
Total liabilities:3993984004151,1881,2751,336
Stockholders' equity
Stockholders' equity attributable to parent, including:(51)451282421401,0561,251
Common stock0000161515
Treasury stock, value(0)(0)(1)(0)(0)(2)(3)
Additional paid in capital266265259252967961953
Accumulated other comprehensive income (loss)   0(44)(37)(15)
Retained earnings (accumulated deficit)(317)(220)(131)(10)(798)119298
Other undisclosed stockholders' equity attributable to parent      3
Other undisclosed stockholders' equity001002 
Total stockholders' equity:(51)461292431401,0581,251
TOTAL LIABILITIES AND EQUITY:3484435296581,3282,3332,587

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
Revenues414522436187921,4271,592
Revenue, net436187921,4271,592
Cost of revenue
(Cost of Goods and Services Sold)
(333)(406)(332)(17)(715)(1,060)(1,114)
Gross profit:80115104178368477
Operating expenses(148)(174)(200)(10)(1,105)(584)(445)
Other operating income (expense), net
(Other Expenses)
     (1,309)1,336
Other undisclosed operating income (loss)     1,321(1,338)
Operating income (loss):(68)(59)(96)(9)(1,027)(204)30
Nonoperating income (expense)227(0)(9)(1)1
Investment income, nonoperating1110000
Foreign currency transaction gain (loss), before tax 00(0)(4)(4)(1)
Other nonoperating income (expense)126(0)231
Interest and debt expense(36)(34)(32)(1)(74)(54)(55)
Other undisclosed loss from continuing operations before equity method investments, income taxes  (2)    
Loss from continuing operations before equity method investments, income taxes:(101)(91)(122)(10)(1,111)(259)(24)
Income (loss) from equity method investments  (1) 00(0)
Loss from continuing operations before income taxes:(101)(91)(123)(10)(1,111)(259)(25)
Income tax benefit4220193803
Other undisclosed income (loss) from continuing operations  1(0)(0)(0)0
Net loss:(97)(89)(121)(10)(918)(179)(21)
Net loss attributable to noncontrolling interest      (1)
Net loss available to common stockholders, diluted:(97)(89)(121)(10)(918)(179)(22)

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:(97)(89)(121)(10)(918)(179)(21)
Other comprehensive income (loss)  (0)0(6)(22)(6)
Comprehensive loss:(97)(89)(121)(10)(924)(200)(27)
Comprehensive loss, net of tax, attributable to noncontrolling interest      (0)
Other undisclosed comprehensive income, net of tax, attributable to parent      0
Comprehensive loss, net of tax, attributable to parent:(97)(89)(121)(10)(924)(200)(27)

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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