Laredo Petroleum, Inc. (LPI) financial statements (2021 and earlier)

Company profile

Business Address 15 W. SIXTH STREET
TULSA, OK 74119
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
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 45112333129198
Cash and cash equivalents 45112333129198
Receivables8594101878817877
Inventory, net of allowances, customer advances and progress billings5     
Inventory5      
Derivative instruments and hedges, assets524072119919516
Other current assets22131614151413
Other undisclosed current assets35    (51)4
Total current assets:200193235155332365308
Noncurrent Assets
Operating lease, right-of-use asset28
Property, plant and equipment2,0002,200 1,3671,2003,3542,204
Oil and gas property, full cost method     3,2032,135
Long-term investments and receivables   244193586
Long-term investments   244193586
Derivative instruments and hedges2311397711880
Deferred costs     2826
Other noncurrent assets12171681190
Other undisclosed noncurrent assets  1,768  (3,203)(2,135)
Total noncurrent assets:2,0642,2281,7881,6281,4813,5672,316
TOTAL ASSETS:2,2642,4202,0231,7821,8133,9332,624
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:417058151411234
Accounts payable  5815143916
Accrued liabilities41316  35 
Employee-related liabilities171321   17
Taxes payable      1
Interest and dividends payable191818  38 
Other undisclosed accounts payable and accrued liabilities125(55)    
Debt14      
Deferred compensation liability     13 
Derivative instruments and hedges, liabilities872321 011
Asset retirement obligation      0
Due to related parties     33
Deferred tax liabilities    71 
Other liabilities394576941069856
Other undisclosed current liabilities69791215896128150
Total current liabilities:171200277188217425254
Noncurrent Liabilities
Long-term debt and lease obligation1,1889847921,3541,4161,8011,052
Long-term debt, excluding current maturities1,1709847921,3541,4161,8011,052
Operating lease, liability17
Liabilities, other than long-term debt6462188604914346
Asset retirement obligations61535451453121
Deferred tax liabilities, net    10616
Other liabilities391344466
Derivative instruments and hedges, liabilities  06  3
Total noncurrent liabilities:1,2521,0469801,4141,4651,9441,098
Total liabilities:1,4231,2461,2581,6021,6822,3691,352
Stockholders' equity
Stockholders' equity attributable to parent8421,1747661811311,5631,272
Common stock2222211
Additional paid in capital2,3852,3752,4322,3962,0871,3091,284
Retained earnings (accumulated deficit)(1,546)(1,203)(1,669)(2,218)(1,957)253(13)
Total stockholders' equity:8421,1747661811311,5631,272
TOTAL LIABILITIES AND EQUITY:2,2642,4202,0231,7821,8133,9332,624

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
Revenues8371,106822597607794665
Revenue, net822597607794665
Cost of revenue(312)(438)(323)(287)(330)(215)(125)
Cost of goods and services sold  (271)(245)(283)(151)(83)
Gross profit:526668500310277579541
Operating expenses(934)(319)(250)(398)(2,748)(352)(326)
Operating income (loss):(409)348250(88)(2,472)226214
Nonoperating income (expense)64(20)301(173)85203(23)
Investment income, nonoperating7943406(87)21432880
Other nonoperating income (expense)5  (80)18732477
Interest and debt expense(1)(58)(24)(1)(32)(121)(102)
Other undisclosed income from continuing operations before equity method investments, income taxes     121102
Income (loss) from continuing operations before equity method investments, income taxes:(346)271527(262)(2,418)430191
Income (loss) from equity method investments     (0)0
Other undisclosed income from continuing operations before income taxes15824132  
Income (loss) from continuing operations before income taxes:(345)329551(261)(2,387)430191
Income tax expense (benefit)3(4)(2) 177(164)(75)
Income (loss) from continuing operations:(342)325549(261)(2,210)265117
Loss from discontinued operations      (1)
Net income (loss) attributable to parent:(342)325549(261)(2,210)265116
Other undisclosed net income available to common stockholders, basic     02
Net income (loss) available to common stockholders, diluted:(342)325549(261)(2,210)266118

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 income (loss):(342)325549(261)(2,210)265116
Comprehensive income (loss), net of tax, attributable to parent:(342)325549(261)(2,210)265116

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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