Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements (Tables)
|
3 Months Ended |
Mar. 31, 2018 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Consolidating Condensed Balance Sheet |
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED BALANCE SHEET
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
March 31, 2018 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
ASSETS |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
56,723 |
|
|
$ |
16,509 |
|
|
$ |
45,083 |
|
|
$ |
— |
|
|
$ |
118,315 |
|
Accounts and Notes receivable, net |
— |
|
|
35,177 |
|
|
91,508 |
|
|
— |
|
|
126,685 |
|
Rig materials and supplies |
— |
|
|
(2,869 |
) |
|
34,318 |
|
|
373 |
|
|
31,822 |
|
Other current assets |
— |
|
|
5,613 |
|
|
14,825 |
|
|
— |
|
|
20,438 |
|
Total current assets |
56,723 |
|
|
54,430 |
|
|
185,734 |
|
|
373 |
|
|
297,260 |
|
Property, plant and equipment, net |
(19 |
) |
|
423,377 |
|
|
187,144 |
|
|
242 |
|
|
610,744 |
|
Goodwill |
— |
|
|
6,708 |
|
|
— |
|
|
— |
|
|
6,708 |
|
Intangible assets, net |
— |
|
|
6,551 |
|
|
— |
|
|
— |
|
|
6,551 |
|
Investment in subsidiaries and intercompany advances |
2,931,773 |
|
|
2,983,588 |
|
|
4,024,920 |
|
|
(9,940,281 |
) |
|
— |
|
Other noncurrent assets |
(256,973 |
) |
|
234,495 |
|
|
533,156 |
|
|
(480,811 |
) |
|
29,867 |
|
Total assets |
$ |
2,731,504 |
|
|
$ |
3,709,149 |
|
|
$ |
4,930,954 |
|
|
$ |
(10,420,477 |
) |
|
$ |
951,130 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
(70,088 |
) |
|
$ |
191,260 |
|
|
$ |
586,677 |
|
|
$ |
(617,477 |
) |
|
$ |
90,372 |
|
Accrued income taxes |
80,627 |
|
|
(59,776 |
) |
|
(16,660 |
) |
|
— |
|
|
4,191 |
|
Total current liabilities |
10,539 |
|
|
131,484 |
|
|
570,017 |
|
|
(617,477 |
) |
|
94,563 |
|
Long-term debt, net |
578,404 |
|
|
— |
|
|
— |
|
|
— |
|
|
578,404 |
|
Other long-term liabilities |
2,867 |
|
|
3,875 |
|
|
4,368 |
|
|
— |
|
|
11,110 |
|
Deferred tax liability |
— |
|
|
— |
|
|
78 |
|
|
— |
|
|
78 |
|
Intercompany payables |
1,871,869 |
|
|
1,468,837 |
|
|
2,495,167 |
|
|
(5,835,873 |
) |
|
— |
|
Total liabilities |
2,463,679 |
|
|
1,604,196 |
|
|
3,069,630 |
|
|
(6,453,350 |
) |
|
684,155 |
|
Total equity |
267,825 |
|
|
2,104,953 |
|
|
1,861,324 |
|
|
(3,967,127 |
) |
|
266,975 |
|
Total liabilities and stockholders’ equity |
$ |
2,731,504 |
|
|
$ |
3,709,149 |
|
|
$ |
4,930,954 |
|
|
$ |
(10,420,477 |
) |
|
$ |
951,130 |
|
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED BALANCE SHEET
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
ASSETS |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
75,342 |
|
|
$ |
20,655 |
|
|
$ |
45,552 |
|
|
$ |
— |
|
|
$ |
141,549 |
|
Accounts and Notes receivable, net |
— |
|
|
32,338 |
|
|
90,173 |
|
|
— |
|
|
122,511 |
|
Rig materials and supplies |
— |
|
|
(3,025 |
) |
|
34,440 |
|
|
— |
|
|
31,415 |
|
Other current assets |
— |
|
|
6,362 |
|
|
15,999 |
|
|
— |
|
|
22,361 |
|
Total current assets |
75,342 |
|
|
56,330 |
|
|
186,164 |
|
|
— |
|
|
317,836 |
|
Property, plant and equipment, net |
(19 |
) |
|
428,556 |
|
|
197,234 |
|
|
— |
|
|
625,771 |
|
Goodwill |
— |
|
|
6,708 |
|
|
— |
|
|
— |
|
|
6,708 |
|
Intangible assets, net |
— |
|
|
7,128 |
|
|
— |
|
|
— |
|
|
7,128 |
|
Investment in subsidiaries and intercompany advances |
2,955,050 |
|
|
2,971,456 |
|
|
3,955,553 |
|
|
(9,882,059 |
) |
|
— |
|
Other noncurrent assets |
(261,232 |
) |
|
237,755 |
|
|
537,124 |
|
|
(480,811 |
) |
|
32,836 |
|
Total assets |
$ |
2,769,141 |
|
|
$ |
3,707,933 |
|
|
$ |
4,876,075 |
|
|
$ |
(10,362,870 |
) |
|
$ |
990,279 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
(51,060 |
) |
|
$ |
179,247 |
|
|
$ |
588,536 |
|
|
$ |
(617,477 |
) |
|
$ |
99,246 |
|
Accrued income taxes |
76,883 |
|
|
(56,870 |
) |
|
(15,583 |
) |
|
— |
|
|
4,430 |
|
Total current liabilities |
25,823 |
|
|
122,377 |
|
|
572,953 |
|
|
(617,477 |
) |
|
103,676 |
|
Long-term debt, net |
577,971 |
|
|
— |
|
|
— |
|
|
— |
|
|
577,971 |
|
Other long-term liabilities |
2,867 |
|
|
5,741 |
|
|
3,825 |
|
|
— |
|
|
12,433 |
|
Deferred tax liability |
(1 |
) |
|
— |
|
|
79 |
|
|
— |
|
|
78 |
|
Intercompany payables |
1,865,810 |
|
|
1,465,744 |
|
|
2,430,340 |
|
|
(5,761,894 |
) |
|
— |
|
Total liabilities |
2,472,470 |
|
|
1,593,862 |
|
|
3,007,197 |
|
|
(6,379,371 |
) |
|
694,158 |
|
Total equity |
296,671 |
|
|
2,114,071 |
|
|
1,868,878 |
|
|
(3,983,499 |
) |
|
296,121 |
|
Total liabilities and stockholders’ equity |
$ |
2,769,141 |
|
|
$ |
3,707,933 |
|
|
$ |
4,876,075 |
|
|
$ |
(10,362,870 |
) |
|
$ |
990,279 |
|
|
| Consolidating Condensed Statement of Operations |
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2018 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Revenues |
$ |
— |
|
|
$ |
42,591 |
|
|
$ |
81,622 |
|
|
$ |
(14,538 |
) |
|
$ |
109,675 |
|
Operating expenses |
— |
|
|
25,817 |
|
|
80,255 |
|
|
(14,538 |
) |
|
91,534 |
|
Depreciation and amortization |
— |
|
|
19,996 |
|
|
8,553 |
|
|
— |
|
|
28,549 |
|
Total operating gross margin (loss) |
— |
|
|
(3,222 |
) |
|
(7,186 |
) |
|
— |
|
|
(10,408 |
) |
General and administrative expense (1)
|
(89 |
) |
|
(5,983 |
) |
|
(129 |
) |
|
— |
|
|
(6,201 |
) |
Gain (loss) on disposition of assets, net |
— |
|
|
11 |
|
|
332 |
|
|
— |
|
|
343 |
|
Total operating income (loss) |
(89 |
) |
|
(9,194 |
) |
|
(6,983 |
) |
|
— |
|
|
(16,266 |
) |
Other income (expense): |
|
|
|
|
|
|
|
|
|
Interest expense |
(12,228 |
) |
|
223 |
|
|
(2,056 |
) |
|
2,821 |
|
|
(11,240 |
) |
Interest income |
182 |
|
|
181 |
|
|
2,481 |
|
|
(2,821 |
) |
|
23 |
|
Other |
— |
|
|
2 |
|
|
289 |
|
|
— |
|
|
291 |
|
Equity in net earnings of subsidiaries |
(16,372 |
) |
|
— |
|
|
— |
|
|
16,372 |
|
|
— |
|
Total other income (expense) |
(28,418 |
) |
|
406 |
|
|
714 |
|
|
16,372 |
|
|
(10,926 |
) |
Income (loss) before income taxes |
(28,507 |
) |
|
(8,788 |
) |
|
(6,269 |
) |
|
16,372 |
|
|
(27,192 |
) |
Income tax expense (benefit) |
288 |
|
|
329 |
|
|
987 |
|
|
— |
|
|
1,604 |
|
Net income (loss) |
(28,795 |
) |
|
(9,117 |
) |
|
(7,256 |
) |
|
16,372 |
|
|
(28,796 |
) |
Less: Mandatory convertible preferred stock dividend |
906 |
|
|
— |
|
|
— |
|
|
— |
|
|
906 |
|
Net income (loss) available to common stockholders |
$ |
(29,701 |
) |
|
$ |
(9,117 |
) |
|
$ |
(7,256 |
) |
|
$ |
16,372 |
|
|
$ |
(29,702 |
) |
(1) General and administrative expenses for field operations are included in operating expenses.
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2017 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Revenues |
$ |
— |
|
|
$ |
27,893 |
|
|
$ |
88,237 |
|
|
$ |
(17,859 |
) |
|
$ |
98,271 |
|
Operating expenses |
— |
|
|
20,950 |
|
|
82,723 |
|
|
(17,859 |
) |
|
85,814 |
|
Depreciation and amortization |
— |
|
|
21,188 |
|
|
11,014 |
|
|
— |
|
|
32,202 |
|
Total operating gross margin (loss) |
— |
|
|
(14,245 |
) |
|
(5,500 |
) |
|
— |
|
|
(19,745 |
) |
General and administrative expense (1)
|
(78 |
) |
|
(6,870 |
) |
|
(92 |
) |
|
— |
|
|
(7,040 |
) |
Gain (loss) on disposition of assets, net |
— |
|
|
(216 |
) |
|
(136 |
) |
|
— |
|
|
(352 |
) |
Total operating income (loss) |
(78 |
) |
|
(21,331 |
) |
|
(5,728 |
) |
|
— |
|
|
(27,137 |
) |
Other income (expense): |
|
|
|
|
|
|
|
|
|
Interest expense |
(11,669 |
) |
|
(45 |
) |
|
(1,942 |
) |
|
2,786 |
|
|
(10,870 |
) |
Interest income |
149 |
|
|
179 |
|
|
2,468 |
|
|
(2,786 |
) |
|
10 |
|
Other |
— |
|
|
32 |
|
|
498 |
|
|
— |
|
|
530 |
|
Equity in net earnings of subsidiaries |
(21,780 |
) |
|
— |
|
|
— |
|
|
21,780 |
|
|
— |
|
Total other income (expense) |
(33,300 |
) |
|
166 |
|
|
1,024 |
|
|
21,780 |
|
|
(10,330 |
) |
Income (loss) before income taxes |
(33,378 |
) |
|
(21,165 |
) |
|
(4,704 |
) |
|
21,780 |
|
|
(37,467 |
) |
Income tax expense (benefit) |
6,430 |
|
|
(5,577 |
) |
|
1,489 |
|
|
— |
|
|
2,342 |
|
Net income (loss) |
(39,808 |
) |
|
(15,588 |
) |
|
(6,193 |
) |
|
21,780 |
|
|
(39,809 |
) |
Less: Mandatory convertible preferred stock dividend |
— |
|
|
— |
|
|
— |
|
|
|
|
|
— |
|
Net income (loss) available to common stockholders |
$ |
(39,808 |
) |
|
$ |
(15,588 |
) |
|
$ |
(6,193 |
) |
|
$ |
21,780 |
|
|
$ |
(39,809 |
) |
(1) General and administrative expenses for field operations are included in operating expenses.
|
| Consolidating Condensed Statements of Comprehensive Income (Loss) |
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2018 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
(28,795 |
) |
|
$ |
(9,117 |
) |
|
$ |
(7,256 |
) |
|
$ |
16,372 |
|
|
$ |
(28,796 |
) |
Other comprehensive income (loss), net of tax: |
|
|
|
|
|
|
|
|
|
Currency translation difference on related borrowings |
— |
|
|
— |
|
|
276 |
|
|
— |
|
|
276 |
|
Currency translation difference on foreign currency net investments |
— |
|
|
— |
|
|
(576 |
) |
|
— |
|
|
(576 |
) |
Total other comprehensive income (loss), net of tax: |
— |
|
|
— |
|
|
(300 |
) |
|
— |
|
|
(300 |
) |
Comprehensive income (loss) |
(28,795 |
) |
|
(9,117 |
) |
|
(7,556 |
) |
|
16,372 |
|
|
(29,096 |
) |
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2017 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
(39,808 |
) |
|
$ |
(15,588 |
) |
|
$ |
(6,193 |
) |
|
$ |
21,780 |
|
|
$ |
(39,809 |
) |
Other comprehensive income (loss), net of tax: |
|
|
|
|
|
|
|
|
|
Currency translation difference on related borrowings |
— |
|
|
— |
|
|
83 |
|
|
— |
|
|
83 |
|
Currency translation difference on foreign currency net investments |
— |
|
|
— |
|
|
763 |
|
|
— |
|
|
763 |
|
Total other comprehensive income (loss), net of tax: |
— |
|
|
— |
|
|
846 |
|
|
— |
|
|
846 |
|
Comprehensive income (loss) |
(39,808 |
) |
|
(15,588 |
) |
|
(5,347 |
) |
|
21,780 |
|
|
(38,963 |
) |
|
| Consolidated Condensed Statements of Cash Flows |
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2018 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
(28,795 |
) |
|
$ |
(9,117 |
) |
|
$ |
(7,256 |
) |
|
$ |
16,372 |
|
|
$ |
(28,796 |
) |
Adjustments to reconcile net income (loss): |
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
— |
|
|
19,996 |
|
|
8,553 |
|
|
— |
|
|
28,549 |
|
(Gain) loss on disposition of assets |
— |
|
|
(11 |
) |
|
(332 |
) |
|
— |
|
|
(343 |
) |
Deferred tax expense (benefit) |
(3,420 |
) |
|
3,015 |
|
|
(138 |
) |
|
— |
|
|
(543 |
) |
Expenses not requiring cash |
1,411 |
|
|
(10 |
) |
|
(11,032 |
) |
|
10,738 |
|
|
1,107 |
|
Change in assets and liabilities: |
|
|
|
|
|
|
|
|
|
Accounts and notes receivable |
— |
|
|
(2,840 |
) |
|
(1,339 |
) |
|
— |
|
|
(4,179 |
) |
Other assets |
23,587 |
|
|
(10,095 |
) |
|
(61,331 |
) |
|
57,850 |
|
|
10,011 |
|
Accounts payable and accrued liabilities |
(12,971 |
) |
|
5,333 |
|
|
74,636 |
|
|
(84,960 |
) |
|
(17,962 |
) |
Accrued income taxes |
3,745 |
|
|
(2,907 |
) |
|
(886 |
) |
|
— |
|
|
(48 |
) |
Net cash provided by (used in) operating activities |
(16,443 |
) |
|
3,364 |
|
|
875 |
|
|
— |
|
|
(12,204 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Capital expenditures |
— |
|
|
(7,554 |
) |
|
(1,370 |
) |
|
— |
|
|
(8,924 |
) |
Proceeds from the sale of assets |
— |
|
|
44 |
|
|
26 |
|
|
— |
|
|
70 |
|
Net cash provided by (used in) investing activities |
— |
|
|
(7,510 |
) |
|
(1,344 |
) |
|
— |
|
|
(8,854 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of debt issuance costs |
(1,148 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,148 |
) |
Preferred stock dividend |
(906 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(906 |
) |
Shares surrendered in lieu of tax |
(122 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(122 |
) |
Net cash provided by (used in) financing activities |
(2,176 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,176 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(18,619 |
) |
|
(4,146 |
) |
|
(469 |
) |
|
— |
|
|
(23,234 |
) |
Cash and cash equivalents at beginning of period |
75,342 |
|
|
20,655 |
|
|
45,552 |
|
|
— |
|
|
141,549 |
|
Cash and cash equivalents at end of period |
$ |
56,723 |
|
|
$ |
16,509 |
|
|
$ |
45,083 |
|
|
$ |
— |
|
|
$ |
118,315 |
|
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS
(Dollars in Thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2017 |
|
Parent |
|
Guarantor |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
(39,808 |
) |
|
$ |
(15,588 |
) |
|
$ |
(6,193 |
) |
|
$ |
21,780 |
|
|
$ |
(39,809 |
) |
Adjustments to reconcile net income (loss) |
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
— |
|
|
21,188 |
|
|
11,014 |
|
|
— |
|
|
32,202 |
|
(Gain) loss on disposition of assets |
— |
|
|
216 |
|
|
136 |
|
|
— |
|
|
352 |
|
Deferred tax expense (benefit) |
(5,641 |
) |
|
5,165 |
|
|
(166 |
) |
|
— |
|
|
(642 |
) |
Expenses not requiring cash |
1,781 |
|
|
91 |
|
|
278 |
|
|
— |
|
|
2,150 |
|
Equity in net earnings of subsidiaries |
21,780 |
|
|
— |
|
|
— |
|
|
(21,780 |
) |
|
— |
|
Change in assets and liabilities: |
|
|
|
|
|
|
|
|
|
Accounts and notes receivable |
— |
|
|
(3,668 |
) |
|
(1,206 |
) |
|
— |
|
|
(4,874 |
) |
Other assets |
17,984 |
|
|
(18,296 |
) |
|
(2,380 |
) |
|
— |
|
|
(2,692 |
) |
Accounts payable and accrued liabilities |
(34,867 |
) |
|
15,591 |
|
|
3,339 |
|
|
— |
|
|
(15,937 |
) |
Accrued income taxes |
(5,783 |
) |
|
7,055 |
|
|
393 |
|
|
— |
|
|
1,665 |
|
Net cash provided by (used in) operating activities |
(44,554 |
) |
|
11,754 |
|
|
5,215 |
|
|
— |
|
|
(27,585 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Capital expenditures |
— |
|
|
(10,994 |
) |
|
(3,457 |
) |
|
— |
|
|
(14,451 |
) |
Proceeds from the sale of assets |
— |
|
|
— |
|
|
46 |
|
|
— |
|
|
46 |
|
Net cash provided by (used in) investing activities |
— |
|
|
(10,994 |
) |
|
(3,411 |
) |
|
— |
|
|
(14,405 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Proceeds from the issuance of common stock |
25,200 |
|
|
— |
|
|
— |
|
|
— |
|
|
25,200 |
|
Proceeds from the issuance of mandatory convertible preferred stock |
50,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
50,000 |
|
Payment of equity issuance costs |
(2,861 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,861 |
) |
Shares surrendered in lieu of tax |
(352 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(352 |
) |
Intercompany advances, net |
4,106 |
|
|
(2,090 |
) |
|
(2,016 |
) |
|
— |
|
|
— |
|
Net cash provided by (used in) financing activities |
76,093 |
|
|
(2,090 |
) |
|
(2,016 |
) |
|
— |
|
|
71,987 |
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
31,539 |
|
|
(1,330 |
) |
|
(212 |
) |
|
— |
|
|
29,997 |
|
Cash and cash equivalents at beginning of period |
65,000 |
|
|
14,365 |
|
|
40,326 |
|
|
— |
|
|
119,691 |
|
Cash and cash equivalents at end of period |
$ |
96,539 |
|
|
$ |
13,035 |
|
|
$ |
40,114 |
|
|
$ |
— |
|
|
$ |
149,688 |
|
|