Superior Energy Services, Inc. (SPN) financial statements (2022 and earlier)
Company profile
| Business Address |
1001 LOUISIANA STREET, SUITE 2900 HOUSTON, TX 77002 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| 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)
| 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 investments | 315 | 188 | 158 | 186 | 188 | |||
| Cash and cash equivalents | 315 | 188 | 158 | 172 | 188 | |||
| Short-term investments | 14 | |||||||
| Receivables | 188 | 193 | 447 | 399 | 399 | |||
| Inventory, net of allowances, customer advances and progress billings | 61 | 87 | 107 | 107 | 103 | |||
| Inventory | 61 | 87 | 107 | 107 | 103 | |||
| Prepaid expense | 16 | 37 | 46 | 42 | 37 | |||
| Disposal group, including discontinued operation | 38 | 48 | 0 | |||||
| Other current assets | 7 | 168 | 176 | |||||
| Other undisclosed current assets | 26 | 9 | (153) | (149) | 55 | |||
| Total current assets: | 649 | 561 | 773 | 761 | 782 | |||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 25 | 50 | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 356 | 542 | 1,109 | 1,317 | 1,605 | |||
| Long-term investments and receivables | 61 | 73 | 64 | 60 | 57 | |||
| Accounts and financing receivable, after allowance for credit loss | 61 | 73 | 64 | 60 | 57 | |||
| Intangible assets, net (including goodwill) | 9 | 146 | 219 | 925 | 932 | |||
| Goodwill | 139 | 137 | 808 | 804 | ||||
| Intangible assets, net (excluding goodwill) | 9 | 7 | 82 | 117 | 128 | |||
| Restricted cash and investments | 80 | 80 | 6 | |||||
| Disposal group, including discontinued operation, noncurrent assets | 11 | 27 | ||||||
| Deferred costs | 15 | 13 | 14 | 12 | ||||
| Other undisclosed noncurrent assets | 20 | 34 | 32 | 23 | 55 | |||
| Total noncurrent assets: | 551 | 940 | 1,443 | 2,349 | 2,689 | |||
| TOTAL ASSETS: | 1,200 | 1,501 | 2,216 | 3,110 | 3,470 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | 160 | 186 | 359 | 341 | 314 | |||
| Accounts payable | 43 | 56 | 139 | 120 | 95 | |||
| Accrued liabilities | 117 | 130 | 219 | 222 | 218 | |||
| Taxes payable | 1 | 1 | ||||||
| Asset retirement obligation | 4 | 4 | 27 | 22 | ||||
| Disposal group, including discontinued operation | 4 | |||||||
| Other undisclosed current liabilities | 6 | 6 | 9 | |||||
| Total current liabilities: | 166 | 194 | 363 | 375 | 345 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 19 | 40 | 1,283 | 1,280 | 1,285 | |||
| Long-term debt, excluding current maturities | 1,283 | 1,280 | 1,285 | |||||
| Operating lease, liability | 19 | 40 | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 273 | 270 | 280 | 323 | 537 | |||
| Asset retirement obligations | 190 | 139 | 127 | 103 | 102 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 61 | 244 | |||
| Deferred income tax liabilities | 12 | 5 | ✕ | ✕ | ✕ | |||
| Other liabilities | 70 | 125 | 153 | 159 | 192 | |||
| Total noncurrent liabilities: | 292 | 310 | 1,562 | 1,603 | 1,822 | |||
| Total liabilities: | 458 | 504 | 1,925 | 1,978 | 2,166 | |||
| Stockholders' equity | ||||||||
| Stockholders' equity attributable to parent, including: | 742 | (339) | 291 | 1,132 | 1,304 | |||
| Common stock | 0 | 0 | 0 | 0 | ||||
| Treasury stock, value | (4) | |||||||
| Additional paid in capital | 2,757 | 2,735 | 2,713 | 2,692 | ||||
| Accumulated other comprehensive loss | (68) | (73) | (67) | (80) | ||||
| Accumulated deficit | (162) | (3,023) | (2,371) | (1,513) | (1,308) | |||
| Other undisclosed stockholders' equity attributable to parent | 904 | |||||||
| Other undisclosed stockholders' equity | 1,336 | |||||||
| Total stockholders' equity: | 742 | 997 | 291 | 1,132 | 1,304 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,200 | 1,501 | 2,216 | 3,110 | 3,470 | |||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 649 | 851 | 2,130 | 1,874 | 1,450 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 1,874 | 1,450 | |
| Cost of revenue (Cost of Goods and Services Sold) | (422) | (580) | (1,502) | (1,399) | (1,123) | ||
| Gross profit: | 227 | 271 | 628 | 475 | 327 | ||
| Operating expenses | (141) | (296) | (1,029) | (310) | (847) | ||
| Other operating expense, net (Other Expenses) | (17) | ||||||
| Other undisclosed operating loss | (220) | (147) | (401) | (439) | (510) | ||
| Operating loss: | (151) | (172) | (802) | (273) | (1,030) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (7) | (9) | (2) | (3) | 23 | ||
| Loss from continuing operations before equity method investments, income taxes: | (158) | (181) | (803) | (276) | (1,008) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 2 | (114) | (99) | (101) | (93) | ||
| Loss from continuing operations before income taxes: | (155) | (295) | (903) | (378) | (1,100) | ||
| Income tax benefit | 33 | 14 | 45 | 191 | 267 | ||
| Loss from continuing operations: | (122) | (281) | (857) | (187) | (833) | ||
| Loss from discontinued operations | (40) | (115) | (1) | (19) | (54) | ||
| Net loss available to common stockholders, basic: | (162) | (396) | (858) | (206) | (887) | ||
| Dilutive securities, effect on basic earnings per share | 0 | ||||||
| Net loss available to common stockholders, diluted: | (162) | (396) | (858) | (206) | (887) | ||
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Net loss: | (162) | (396) | (858) | (206) | (887) | ||
| Comprehensive loss: | (162) | (396) | (858) | (206) | (887) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 4 | (6) | 13 | (35) | |||
| Comprehensive loss, net of tax, attributable to parent: | (162) | (392) | (864) | (193) | (921) | ||
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.