Legacy Reserves Inc. (LGCY) financial statements (2021 and earlier)

Company profile

Business Address 303 W. WALL STREET, SUITE 1800
MIDLAND, TX 79701
State of Incorp. DE
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments41
Cash and cash equivalents41
Receivables1615
Derivative instruments and hedges, assets167
Other undisclosed current assets9668
Total current assets:117151
Noncurrent Assets
Finance lease, right-of-use asset1
Operating lease, right-of-use asset2
Property, plant and equipment (12)
Oil and gas property, successful effort method9261,314
Intangible assets, net (including goodwill) 1
Intangible assets, net (excluding goodwill) 1
Derivative instruments and hedges 3
Other noncurrent assets 3
Other undisclosed noncurrent assets315
Total noncurrent assets:9321,324
TOTAL ASSETS:1,0491,475
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities73110
Accounts payable1211
Accrued liabilities6199
Debt 857
Derivative instruments and hedges, liabilities10 
Asset retirement obligation54
Other liabilities2914
Total current liabilities:117985
Noncurrent Liabilities
Long-term debt and lease obligation370433
Long-term debt, excluding current maturities370433
Liabilities, other than long-term debt153250
Asset retirement obligations148249
Other liabilities21
Derivative instruments and hedges, liabilities31
Total noncurrent liabilities:523683
Total liabilities:6401,668
Stockholders' equity
Stockholders' equity attributable to parent409(193)
Common stock11
Additional paid in capital40625
Retained earnings (accumulated deficit)3(218)
Total stockholders' equity:409(193)
TOTAL LIABILITIES AND EQUITY:1,0491,475

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

12/31/2019
12/31/2018
Revenues30555
Cost of revenue(17)(380)
Cost of goods and services sold(10)(200)
Gross profit:13174
Operating expenses(2)(127)
Operating income:1148
Nonoperating income
(Other Nonoperating income)
01
Interest and debt expense(2)(51)
Income (loss) from continuing operations before equity method investments, income taxes:9(2)
Loss from equity method investments(0)(0)
Other undisclosed income (loss) from continuing operations before income taxes(6)49
Income from continuing operations before income taxes:347
Income tax expense(0)(3)
Net income available to common stockholders, diluted:344

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
Net income:344
Comprehensive income, net of tax, attributable to parent:344

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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