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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments  45112333129
Cash and cash equivalents  45112333129
Receivables6485941018788178
Inventory, net of allowances, customer advances and progress billings35     
Inventory35     
Derivative instruments and hedges, assets85240721199195
Other current assets16221316141514
Other undisclosed current assets4635    (51)
Total current assets:137200193235155332365
Noncurrent Assets
Operating lease, right-of-use asset1828
Property, plant and equipment1,2722,0002,200 1,3671,2003,354
Oil and gas property, full cost method      3,203
Long-term investments and receivables    24419358
Long-term investments    24419358
Derivative instruments and hedges 23113977118
Deferred costs      28
Other noncurrent assets161217168119
Other undisclosed noncurrent assets   1,768  (3,203)
Total noncurrent assets:1,3062,0642,2281,7881,6281,4813,567
TOTAL ASSETS:1,4432,2642,4202,0231,7821,8133,933
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:384170581514112
Accounts payable   58151439
Accrued liabilities441316  35
Employee-related liabilities17171321   
Interest and dividends payable42191818  38
Other undisclosed accounts payable and accrued liabilities(24)125(55)   
Debt 14     
Deferred compensation liability      13
Derivative instruments and hedges, liabilities32872321 0
Due to related parties      3
Deferred tax liabilities    71
Other liabilities633945769410698
Other undisclosed current liabilities6569791215896128
Total current liabilities:198171200277188217425
Noncurrent Liabilities
Long-term debt and lease obligation1,1881,1889847921,3541,4161,801
Long-term debt, excluding current maturities1,1791,1709847921,3541,4161,801
Operating lease, liability917
Liabilities, other than long-term debt7864621886049143
Asset retirement obligations65615354514531
Deferred tax liabilities, net    106
Other liabilities139134446
Derivative instruments and hedges, liabilities12  06  
Total noncurrent liabilities:1,2661,2521,0469801,4141,4651,944
Total liabilities:1,4641,4231,2461,2581,6021,6822,369
Stockholders' equity
Stockholders' equity attributable to parent(21)8421,1747661811311,563
Common stock0222221
Additional paid in capital2,3982,3852,3752,4322,3962,0871,309
Retained earnings (accumulated deficit)(2,420)(1,546)(1,203)(1,669)(2,218)(1,957)253
Total stockholders' equity:(21)8421,1747661811311,563
TOTAL LIABILITIES AND EQUITY:1,4432,2642,4202,0231,7821,8133,933

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues6778371,106822597607794
Revenue, net822597607794
Cost of revenue(322)(312)(438)(323)(287)(330)(215)
Cost of goods and services sold   (271)(245)(283)(151)
Gross profit:355526668500310277579
Operating expenses(1,217)(934)(319)(250)(398)(2,748)(352)
Operating income (loss):(862)(409)348250(88)(2,472)226
Nonoperating income (expense)(16)64(20)301(173)85203
Investment income, nonoperating807943406(87)214328
Other nonoperating income (expense)25  (80)187324
Interest and debt expense9(1)(58)(24)(1)(32)(121)
Other undisclosed income from continuing operations before equity method investments, income taxes      121
Income (loss) from continuing operations before equity method investments, income taxes:(869)(346)271527(262)(2,418)430
Loss from equity method investments      (0)
Other undisclosed income (loss) from continuing operations before income taxes(9)15824132 
Income (loss) from continuing operations before income taxes:(878)(345)329551(261)(2,387)430
Income tax expense (benefit)43(4)(2) 177(164)
Net income (loss) attributable to parent:(874)(342)325549(261)(2,210)265
Other undisclosed net income available to common stockholders, basic      0
Net income (loss) available to common stockholders, diluted:(874)(342)325549(261)(2,210)266

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(874)(342)325549(261)(2,210)265
Comprehensive income (loss), net of tax, attributable to parent:(874)(342)325549(261)(2,210)265

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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