Nabors Industries Ltd. (NBR) financial statements (2021 and earlier)
Company profile
| Business Address |
CROWN HOUSE HAMILTON, HM08, 0000 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| SIC | 1381 - Drilling Oil and Gas Wells (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 | 482 | 17 | 34 | 28 | 295 | 275 | 536 | ||
| Cash and cash equivalents | 472 | 264 | 255 | 501 | |||||
| Short-term investments | 10 | 17 | 34 | 28 | 31 | 20 | 35 | ||
| Receivables | 363 | 534 | 879 | 753 | 508 | 785 | 1,518 | ||
| Inventory, net of allowances, customer advances and progress billings | 161 | 176 | 166 | 166 | 104 | 154 | 230 | ||
| Inventory | 161 | 176 | 166 | 166 | 104 | 154 | 230 | ||
| Contract with customer, asset | 49 | 56 | ✕ | ✕ | ✕ | ✕ | |||
| Disposal group, including discontinued operation | 17 | 3 | 12 | 37 | 77 | 76 | |||
| Assets held-for-sale | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 146 | ||
| Deferred tax assets | ✕ | ✕ | 118 | ||||||
| Other current assets | 110 | 164 | 178 | 180 | 172 | 187 | 193 | ||
| Other undisclosed current assets | 307 | 269 | 283 | ||||||
| Total current assets: | 1,131 | 1,249 | 1,594 | 1,447 | 1,156 | 1,476 | 2,742 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 3,986 | 4,931 | 5,468 | 6,110 | 6,268 | 7,028 | 8,599 | ||
| Long-term investments and receivables, including: | 1 | 415 | 3 | ||||||
| Long-term investments | 1 | 415 | 58 | ||||||
| Other undisclosed long-term investments and receivables | (55) | ||||||||
| Intangible assets, net (including goodwill) | 28 | 184 | 173 | 167 | 167 | 174 | |||
| Goodwill | 28 | 184 | 173 | 167 | 167 | 174 | |||
| Contract with customer, asset, net | 32 | ✕ | ✕ | ✕ | ✕ | ||||
| Deferred income tax assets | 247 | 306 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 139 | 247 | 264 | 253 | 596 | 452 | 304 | ||
| Deferred tax assets, net | ✕ | ✕ | 419 | 31 | |||||
| Other undisclosed noncurrent assets | 313 | 27 | |||||||
| Total noncurrent assets: | 4,372 | 5,512 | 6,260 | 6,955 | 7,031 | 8,062 | 9,138 | ||
| TOTAL ASSETS: | 5,503 | 6,761 | 7,854 | 8,402 | 8,187 | 9,538 | 11,880 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 507 | 643 | 832 | 919 | 822 | 1,000 | 1,797 | ||
| Accounts payable | 221 | 295 | 393 | 363 | 265 | 272 | 780 | ||
| Accrued liabilities | 276 | 333 | 418 | 533 | 543 | 687 | 728 | ||
| Employee-related liabilities | 178 | ||||||||
| Taxes payable | 10 | 15 | 21 | 23 | 14 | 41 | 112 | ||
| Debt | 13 | 1 | 0 | 0 | 7 | 6 | |||
| Estimated litigation liability | 24 | ||||||||
| Disposal group, including discontinued operation | 20 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 298 | |||||
| Deferred tax liabilities | ✕ | ✕ | 4 | ||||||
| Other undisclosed current liabilities | 8 | (581) | |||||||
| Total current liabilities: | 515 | 657 | 832 | 919 | 822 | 1,006 | 1,567 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,969 | 3,333 | 3,586 | 4,028 | 3,578 | 3,655 | 4,349 | ||
| Long-term debt, excluding current maturities | 2,969 | 3,333 | 3,586 | 4,028 | 3,578 | 3,655 | 4,349 | ||
| Liabilities, other than long-term debt | 320 | 295 | 281 | 312 | 522 | 582 | 1,046 | ||
| Deferred tax liabilities, net | ✕ | ✕ | 6 | 10 | 29 | 443 | |||
| Deferred income tax liabilities | 2 | 3 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Due to related parties | 1 | ||||||||
| Other liabilities | 318 | 292 | 274 | 302 | 522 | 553 | 602 | ||
| Other undisclosed noncurrent liabilities | 9 | (1) | |||||||
| Total noncurrent liabilities: | 3,288 | 3,629 | 3,867 | 4,340 | 4,110 | 4,237 | 5,394 | ||
| Total liabilities: | 3,804 | 4,285 | 4,699 | 5,259 | 4,932 | 5,244 | 6,961 | ||
| Temporary equity, carrying amount | 443 | 425 | 405 | 204 | |||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 1,151 | 1,983 | 2,701 | 2,912 | 3,247 | 4,283 | 4,909 | ||
| Preferred stock | 0 | 0 | 0 | ||||||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Treasury stock, value | (1,316) | (1,314) | (1,314) | (1,314) | (1,296) | (1,294) | (1,195) | ||
| Additional paid in capital | 3,424 | 3,413 | 3,393 | 2,791 | 2,521 | 2,493 | 2,452 | ||
| Accumulated other comprehensive income (loss) | (11) | (12) | (29) | 11 | (12) | (48) | 78 | ||
| Retained earnings (accumulated deficit) | (946) | (105) | 651 | 1,423 | 2,033 | 3,131 | 3,573 | ||
| Stockholders' equity attributable to noncontrolling interest | 105 | 67 | 49 | 27 | 8 | 11 | 10 | ||
| Total stockholders' equity: | 1,257 | 2,050 | 2,750 | 2,939 | 3,255 | 4,294 | 4,919 | ||
| TOTAL LIABILITIES AND EQUITY: | 5,503 | 6,761 | 7,854 | 8,402 | 8,187 | 9,538 | 11,880 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,134 | 3,043 | 3,058 | 2,564 | 2,228 | 3,864 | 6,804 | |
| Revenue, net | ✕ | ✕ | ✕ | 2,564 | 2,228 | 3,864 | 6,804 | |
| Revenue from related parties | 613 | 673 | 724 | ✕ | ✕ | ✕ | ✕ | |
| Cost of revenue | (2,381) | (3,020) | (3,063) | (2,794) | (2,327) | (3,423) | (5,530) | |
| Cost of goods and services sold | (1,333) | (1,929) | (1,977) | (1,718) | (1,344) | (2,371) | (4,505) | |
| Gross profit: | (247) | 23 | (6) | (230) | (100) | 441 | 1,274 | |
| Operating expenses | (460) | (623) | (503) | (351) | (878) | (796) | (1,884) | |
| Other undisclosed operating income | 1,208 | |||||||
| Operating income (loss): | (707) | (599) | (509) | (581) | (977) | (355) | 598 | |
| Nonoperating income (expense) | (27) | (23) | (39) | (14) | (36) | 41 | 8 | |
| Investment income, nonoperating | 1 | 10 | (9) | 1 | 1 | 2 | 9 | |
| Other nonoperating income (expense) | (29) | (33) | (30) | (15) | (38) | 39 | ||
| Interest and debt expense | (206) | (193) | (232) | (239) | (185) | (182) | (184) | |
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (1,027) | |||||||
| Loss from continuing operations before equity method investments, income taxes: | (940) | (815) | (781) | (834) | (1,199) | (495) | (605) | |
| Income (loss) from equity method investments | (0) | 0 | 0 | (222) | (75) | (6) | ||
| Other undisclosed income from continuing operations before income taxes | 235 | 226 | 262 | 254 | 223 | 143 | 6 | |
| Loss from continuing operations before income taxes: | (706) | (589) | (519) | (580) | (1,198) | (428) | (605) | |
| Income tax expense (benefit) | (57) | (92) | (79) | 83 | 187 | 98 | (63) | |
| Other undisclosed loss from continuing operations | (2) | |||||||
| Loss from continuing operations: | (763) | (680) | (598) | (497) | (1,011) | (329) | (669) | |
| Income (loss) from discontinued operations | 0 | (0) | (15) | (44) | (18) | (43) | 0 | |
| Net loss: | (763) | (681) | (613) | (541) | (1,030) | (372) | (669) | |
| Net loss attributable to noncontrolling interest | (43) | (22) | (28) | (6) | (0) | (0) | (1) | |
| Net loss attributable to parent: | (806) | (703) | (641) | (547) | (1,030) | (373) | (671) | |
| Preferred stock dividends and other adjustments | (15) | (17) | (12) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | 13 | ✕ | ✕ | ✕ | ||||
| Net loss available to common stockholders, basic: | (820) | (720) | (653) | (534) | (1,030) | (373) | (671) | |
| Other undisclosed net income (loss) available to common stockholders, diluted | (18) | (21) | 2 | 44 | 41 | |||
| Net loss available to common stockholders, diluted: | (838) | (741) | (652) | (490) | (989) | (373) | (671) | |
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 loss: | (763) | (681) | (613) | (541) | (1,030) | (372) | (669) | |
| Other comprehensive income (loss) | 1 | 18 | (41) | 24 | 36 | (127) | (140) | |
| Comprehensive loss: | (762) | (663) | (653) | (517) | (994) | (499) | (809) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (43) | (22) | (28) | (6) | (0) | 1 | 0 | |
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (1) | |||||||
| Comprehensive loss, net of tax, attributable to parent: | (805) | (685) | (681) | (524) | (994) | (498) | (809) | |
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.