Parker Wellbore Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

The following table includes our deposits in domestic banks in excess of federally insured limits and uninsured deposits in foreign banks:



	Successor		Predecessor
Dollars in thousands	December 31, 2019		December 31, 2018
Deposits in domestic banks in excess of federally insured limits	$	53,303	$	27,520
Uninsured deposits in foreign banks	$	51,884	$	32,907



	Successor		Predecessor
	December 31,		December 31,
Dollars in thousands	2019		2018
Cash and cash equivalents	$	104,951	$	48,602
Restricted cash	—		10,389
Cash, cash equivalents and restricted cash at end of period	$	104,951	$	58,991

Restrictions on Cash and Cash Equivalents



	Successor		Predecessor
	December 31,		December 31,
Dollars in thousands	2019		2018
Cash and cash equivalents	$	104,951	$	48,602
Restricted cash	—		10,389
Cash, cash equivalents and restricted cash at end of period	$	104,951	$	58,991

Summary of Significant Total Accounts and Notes Receivable

The components of our accounts receivable, net of allowance for bad debt balance are as follows:



	Successor			Predecessor
	December 31,			December 31,
Dollars in thousands	2019			2018
Accounts Receivable	$	166,799		$	144,204
Allowance for bad debts ⁽¹⁾	(343		)	(7,767		)
Accounts receivable, net of allowance for bad debts	$	166,456		$	136,437

(1)

Additional information on the allowance for bad debt as of December 31, 2019 and 2018, is reported on Schedule II — Valuation and Qualifying Accounts in Item 15. Exhibits and Financial Statement Schedules.

Summary of Depreciable Lives for Different Categories of Property Plant and Equipment

Depreciable lives for different categories of property, plant, and equipment are as follows:



Computer, office equipment, and other	3 to 10 years
Land drilling equipment	3 to 20 years
Barge drilling equipment	3 to 20 years
Drill pipe, rental tools, and other	4 to 15 years
Buildings and improvements	5 to 30 years

Schedule of Capitalized Interest



	Successor		Predecessor
	December 31,		December 31,
Dollars in thousands	2019		2018
Capitalized interest	$	—	$	125