Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

v3.6.0.2
CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 119,691 $ 134,294
Accounts and Notes Receivable, net of allowance for bad debts of $8,259 in 2016 and $8,694 in 2015 113,231 175,105
Rig materials and supplies 32,354 34,937
Deferred costs 1,436 1,367
Other tax assets 6,475 5,192
Other current assets 13,131 15,846
Total current assets 286,318 366,741
Other assets:    
Property, plant and equipment, net of accumulated depreciation of $1,320,644 in 2016 and $1,302,380 in 2015 (Note 5) 693,439 805,841
Goodwill (Note 3) 6,708 6,708
Intangible Assets, Net (Excluding Goodwill) 9,928 13,377
Rig materials and supplies 22,439 18,104
Deferred income taxes 70,309 139,282
Other assets 14,410 16,649
Total assets 1,103,551 1,366,702
Current liabilities:    
Accounts payable 42,655 58,080
Accrued liabilities 56,186 71,623
Accrued income taxes 4,080 6,418
Total current liabilities 102,921 136,121
Long-term debt, net of unamortized debt issuance costs of $8,674 at December 31, 2016 and $10,202 at December 31, 2015 576,326 574,798
Other long-term liabilities 15,836 18,617
Long-term deferred tax liability 69,333 68,654
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Common Stock, $0.16 2/3 par value, authorized 280,000,000 shares, issued and outstanding, 125,118,365 shares (123,206,269 shares in 2015) 20,837 20,518
Capital in excess of par value 675,194 669,120
Accumulated deficit (350,052) (119,238)
Accumulated Other Comprehensive Income (6,844) (1,888)
Total controlling interest stockholders’ equity 339,135 568,512
Noncontrolling interest 0 0
Total equity 339,135 568,512
Total liabilities and stockholders’ equity $ 1,103,551 $ 1,366,702