Liberty Oilfield Services Inc. (LBRT) Financial Statements (2023 and Earlier)

Company Profile

Business Address 950 17TH STREET
DENVER, CO 80202
State of Incorp.
Fiscal Year End December 31
Industry (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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2069113103
Cash and cash equivalents2069113103
Receivables407339253248
Inventory, net of allowances, customer advances and progress billings1351198960
Inventory1351198960
Other undisclosed current assets68413550
Total current assets:630567489461
Noncurrent Assets
Finance lease, right-of-use asset183955
Operating lease, right-of-use asset1107653
Property, plant and equipment1,1991,121652627
Deferred income tax assets15 
Other noncurrent assets82823428
Total noncurrent assets:1,4101,323794655
TOTAL ASSETS:2,0411,8901,2831,117
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities524222157113
Accounts payable28919311880
Accrued liabilities235   
Employee-related liabilities 282923
Interest and dividends payable  1110
Deferred revenue5  
Debt1021400
Due to related parties1 12
Other undisclosed current liabilities3011468104
Total current liabilities:569356266220
Noncurrent Liabilities
Long-term debt and lease obligation203167167106
Long-term debt, excluding current maturities121105106106
Finance lease, liability41125
Operating lease, liability775037
Liabilities, other than long-term debt38576833
Accounts payable and accrued liabilities385748 
Deferred tax liabilities, net33
Deferred income tax liabilities1 20
Other undisclosed noncurrent liabilities   17
Total noncurrent liabilities:241224235156
Total liabilities:810580502376
Stockholders' equity
Stockholders' equity attributable to parent, including:1,2131,151555433
Additional paid in capital1,3681,126411313
Accumulated other comprehensive loss(0)   
Retained earnings (accumulated deficit)(156)23143119
Other undisclosed stockholders' equity attributable to parent2211
Stockholders' equity attributable to noncontrolling interest17159227308
Total stockholders' equity:1,2301,310781741
TOTAL LIABILITIES AND EQUITY:2,0411,8901,2831,117

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues2,4719661,9902,155
Cost of revenue(2,522)(1,046)(1,775)(1,754)
Cost of goods and services sold(2,250)(858)(1,621)(1,629)
Gross profit:(51)(80)215401
Operating expenses(130)(97)(111)(95)
Operating income (loss):(181)(177)104307
Nonoperating income30  
Investment income, nonoperating 0  
Interest and debt expense(2)(15)(15)(17)
Income (loss) from continuing operations before equity method investments, income taxes:(179)(191)89289
Other undisclosed income from continuing operations before income taxes2   
Income (loss) from continuing operations before income taxes:(178)(191)89289
Income tax expense (benefit)(9)31(14)(40)
Income (loss) before gain (loss) on sale of properties:(187)(160)75249
Other undisclosed net loss (0)  
Net income (loss):(187)(161)75249
Net income (loss) attributable to noncontrolling interest845(36)(114)
Other undisclosed net loss attributable to parent   (9)
Net income (loss) available to common stockholders, basic:(179)(116)39126
Dilutive securities, effect on basic earnings per share  1787
Net income (loss) available to common stockholders, diluted:(179)(116)56213

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(187)(161)75249
Other undisclosed comprehensive loss(0)   
Comprehensive income (loss):(187)(161)75249
Comprehensive income (loss), net of tax, attributable to noncontrolling interest845(36)(114)
Comprehensive income (loss), net of tax, attributable to parent:(180)(116)39135

Statements Sources

The financial statements are based on the Company's filings with 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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