NexTier Oilfield Solutions Inc. (NEX) Financial Statements (2024 and earlier)

Company Profile

Business Address 3990 ROGERDALE RD.
HOUSTON, TX 77042
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1389 - Oil and Gas Field Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2311162812558096
Cash and cash equivalents2181112762558096
Short-term investments 1255   
Receivables397302123351210238
Inventory, net of allowances, customer advances and progress billings663830623633
Inventory663830623633
Asset, held-for-sale, not part of disposal group  2000 
Other undisclosed current assets3250532069
Total current assets:726508487688332376
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization4442110
Operating lease, right-of-use asset19223755
Property, plant and equipment680621471709531468
Intangible assets, net (including goodwill)243258155192184192
Goodwill193193104137133135
Intangible assets, net (excluding goodwill)516551555257
Deferred income tax assets    
Other noncurrent assets16871177
Total noncurrent assets:1,001950671977722667
TOTAL ASSETS:1,7271,4581,1581,6651,0551,043
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities485405195350208228
Accounts payable2031916111510792
Accrued liabilities282214134235102135
Deferred revenue19240 
Debt342533084
Deferred compensation liability     44
Deferred revenue and credits5
Contract with customer, liability0
Other liabilities9103601
Other undisclosed current liabilities6719   
Total current liabilities:553472220386221242
Noncurrent Liabilities
Long-term debt and lease obligation359409358375344279
Long-term debt, excluding current maturities347362333335338274
Capital lease obligations65
Finance lease, liability122715
Liabilities, other than long-term debt2530221739
Deferred compensation liability, classified      4
Other liabilities1130221735
Operating lease, liability13202435
Total noncurrent liabilities:384439380392347288
Total liabilities:937911601778567530
Equity
Equity, attributable to parent790547557887487513
Common stock222211
Additional paid in capital1,0071,094990967455541
Accumulated other comprehensive income (loss)6(8)(13)(9)(1)(2)
Retained earnings (accumulated deficit)(226)(541)(422)(73)31(27)
Total equity:790547557887487513
TOTAL LIABILITIES AND EQUITY:1,7271,4581,1581,6651,0551,043

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

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,2451,4231,2031,8222,1371,542
Cost of revenue(2,490)(1,255)(1,033)(1,404)(1,661)(1,439)
Cost of goods and services sold(213)(168)(286)(278)(246)(1,283)
Other undisclosed gross profit  820  157
Gross profit:755176190418476260
Operating expenses(422)(273)(501)(501)(373)(94)
Other undisclosed operating loss  (8)(20) (5)(157)
Operating income (loss):333(105)(331)(84)989
Nonoperating income (expense)1512(14)(21)(34)(45)
Other nonoperating income (expense)151270(1)14
Interest and debt expense(28)(25)(21)(1)(8)(31)
Other undisclosed income from continuing operations before equity method investments, income taxes   211831
Income (loss) from continuing operations before equity method investments, income taxes:320(118)(345)(105)64(36)
Income from equity method investments      1
Other undisclosed loss from continuing operations before income taxes     (1)
Income (loss) from continuing operations before income taxes:320(118)(345)(105)64(36)
Income tax expense (benefit)(5)(2)(1)(1)(4)(0)
Income (loss) from continuing operations:315(119)(347)(106)59(36)
Income (loss) before gain (loss) on sale of properties:(119)(347)(106)59(36)
Net income (loss) available to common stockholders, diluted:315(119)(347)(106)59(36)

Comprehensive Income ($ in millions)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):315(119)(347)(106)59(36)
Other comprehensive income (loss) 155(4)(8)21
Other undisclosed comprehensive income      
Comprehensive income (loss):330(115)(351)(114)61(35)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1)(3)(2)0(3) 
Comprehensive income (loss), net of tax, attributable to parent:328(117)(354)(114)58(35)

Statements Sources

The financial statements are based on the Company's filings with 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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