Patterson-UTI Energy, Inc. (PTEN) financial statements (2023 and earlier)

Company profile

Business Address 10713 WEST SAM HOUSTON PARKWAY NORTH
HOUSTON, TX 77064
State of Incorp. DE
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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments118225 2454335
Cash and cash equivalents118225 2454335
Receivables356165 563582150
Inventory, net of allowances, customer advances and progress billings4233 666920
Inventory4233 666920
Deferred tax assets  36
Other current assets6855 775341
Total current assets:584478 950747283
Noncurrent Assets
Operating lease, right-of-use asset1917 
Property, plant and equipment2,3322,761 4,0034,2553,409
Intangible assets, net (including goodwill), including:830 47868789
Goodwill   41161186
Intangible assets, net (excluding goodwill)830 6776 
Other undisclosed intangible assets, net (including goodwill)     3
Deposits noncurrent assets12 121616
Deferred income tax assets4  
Other noncurrent assets1111 27507
Other undisclosed noncurrent assets    4 
Total noncurrent assets:2,3742,821 4,5205,0123,521
TOTAL ASSETS:2,9583,299 5,4705,7593,805
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities429267 525546265
Accounts payable19092 289320126
Accrued liabilities239175 236227139
Other undisclosed current liabilities77 1  
Total current liabilities:436274 526546265
Noncurrent Liabilities
Long-term debt and lease obligation870921 1,119599598
Long-term debt, excluding current maturities852901 1,119599598
Operating lease, liability1819 
Liabilities, other than long-term debt4289 319363693
Deferred tax liabilities, net306351683
Deferred income tax liabilities2978 
Other liabilities1311 131210
Other undisclosed noncurrent liabilities    268 
Total noncurrent liabilities:9131,009 1,4381,2301,291
Total liabilities:1,3481,283 1,9641,7761,556
Stockholders' equity
Stockholders' equity attributable to parent1,6092,016 3,5053,9822,249
Common stock33 332
Treasury stock, value(1,373)(1,366) (1,080)(919)(911)
Additional paid in capital3,1722,902 2,8272,7861,043
Accumulated other comprehensive income (loss)65 27(1)
Retained earnings (accumulated deficit)(198)472 1,7542,1062,116
Total stockholders' equity:1,6092,016 3,5053,9822,249
TOTAL LIABILITIES AND EQUITY:2,9583,299 5,4705,7593,805

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues1,3571,124 3,3272,357916
Revenue, net2,357916
Cost of revenue(1,932)(1,518) (3,301)(2,417)(1,291)
Gross profit:(575)(394) 26(61)(375)
Operating expenses(103)(498) (348)(232)(81)
Other operating income (expense), net(1)(7) 183214
Other undisclosed operating income (loss)17 (18)(32)(14)
Operating loss:(678)(892) (322)(293)(456)
Nonoperating expense(42)(39) (45)(35)(40)
Interest and debt expense(42)4 (52)(37)(40)
Loss from continuing operations before equity method investments, income taxes:(762)(927) (419)(365)(537)
Other undisclosed income (loss) from continuing operations before income taxes42(4) 523740
Loss from continuing operations before income taxes:(720)(931) (367)(328)(496)
Income tax benefit63127 46334178
Income (loss) from continuing operations:(657)(804) (321)6(319)
Income from discontinued operations3     
Net income (loss) attributable to parent:(655)(804) (321)6(319)
Other undisclosed net loss available to common stockholders, basic    (0) 
Net income (loss) available to common stockholders, diluted:(655)(804) (321)6(319)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(655)(804) (321)6(319)
Comprehensive income (loss):(655)(804) (321)6(319)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1(0) (4)83
Comprehensive income (loss), net of tax, attributable to parent:(654)(804) (326)14(316)

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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