Laredo Petroleum, Inc. (LPI) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments   451123331
Cash and cash equivalents   451123331
Receivables1526485941018788
Inventory, net of allowances, customer advances and progress billings1035    
Inventory1035    
Derivative instruments and hedges, assets485240721199
Other current assets23162213161415
Other undisclosed current assets474635    
Total current assets:236137200193235155332
Noncurrent Assets
Operating lease, right-of-use asset121828
Property, plant and equipment2,2501,2722,0002,200 1,3671,200
Long-term investments and receivables     244193
Long-term investments     244193
Derivative instruments and hedges33 23113977
Other noncurrent assets2116121716811
Other undisclosed noncurrent assets    1,768  
Total noncurrent assets:2,3161,3062,0642,2281,7881,6281,481
TOTAL ASSETS:2,5521,4432,2642,4202,0231,7821,813
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:71384170581514
Accounts payable    581514
Accrued liabilities29441316  
Employee-related liabilities1417171321  
Interest and dividends payable5642191818  
Other undisclosed accounts payable and accrued liabilities(28)(24)125(55)  
Debt  14    
Derivative instruments and hedges, liabilities18032872321 
Other liabilities996339457694106
Other undisclosed current liabilities1766569791215896
Total current liabilities:527198171200277188217
Noncurrent Liabilities
Long-term debt and lease obligation1,4321,1881,1889847921,3541,416
Long-term debt, excluding current maturities1,4261,1791,1709847921,3541,416
Operating lease, liability6917
Liabilities, other than long-term debt807864621886049
Asset retirement obligations69656153545145
Other liabilities1013913444
Derivative instruments and hedges, liabilities 12  06 
Total noncurrent liabilities:1,5111,2661,2521,0469801,4141,465
Total liabilities:2,0381,4641,4231,2461,2581,6021,682
Stockholders' equity
Stockholders' equity attributable to parent514(21)8421,174766181131
Common stock0022222
Additional paid in capital2,7892,3982,3852,3752,4322,3962,087
Accumulated deficit(2,275)(2,420)(1,546)(1,203)(1,669)(2,218)(1,957)
Total stockholders' equity:514(21)8421,174766181131
TOTAL LIABILITIES AND EQUITY:2,5521,4432,2642,4202,0231,7821,813

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,3946778371,106822597607
Revenue, net822597607
Cost of revenue(689)(322)(312)(438)(323)(287)(330)
Cost of goods and services sold    (271)(245)(283)
Gross profit:705355526668500310277
Operating expenses(78)(1,217)(934)(319)(250)(398)(2,748)
Other undisclosed operating income93      
Operating income (loss):720(862)(409)348250(88)(2,472)
Nonoperating income (expense)(572)(16)64(20)301(173)85
Investment income, nonoperating(452)807943406(87)214
Other nonoperating income (expense)325  (80)187
Interest and debt expense(113)9(1)(58)(24)(1)(32)
Income (loss) from continuing operations before equity method investments, income taxes:35(869)(346)271527(262)(2,418)
Other undisclosed income (loss) from continuing operations before income taxes113(9)15824132
Income (loss) from continuing operations before income taxes:149(878)(345)329551(261)(2,387)
Income tax expense (benefit)(4)43(4)(2) 177
Net income (loss) available to common stockholders, diluted:145(874)(342)325549(261)(2,210)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):145(874)(342)325549(261)(2,210)
Comprehensive income (loss), net of tax, attributable to parent:145(874)(342)325549(261)(2,210)

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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