CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)
|
9 Months Ended |
Sep. 30, 2018 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| CONDENSED CONSOLIDATING BALANCE SHEETS |
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
89,214 |
|
|
$ |
35,357 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
124,571 |
|
Accounts receivable - oil and natural gas sales |
111,463 |
|
|
45,928 |
|
|
— |
|
|
— |
|
|
157,391 |
|
Accounts receivable - joint interest and other |
19,066 |
|
|
20,445 |
|
|
— |
|
|
— |
|
|
39,511 |
|
Accounts receivable - related parties |
79 |
|
|
— |
|
|
— |
|
|
— |
|
|
79 |
|
Accounts receivable - intercompany |
662,319 |
|
|
240,373 |
|
|
— |
|
|
(902,692 |
) |
|
— |
|
Prepaid expenses and other current assets |
7,521 |
|
|
2,221 |
|
|
— |
|
|
— |
|
|
9,742 |
|
Short-term derivative instruments |
19,809 |
|
|
— |
|
|
— |
|
|
— |
|
|
19,809 |
|
Total current assets |
909,471 |
|
|
344,324 |
|
|
— |
|
|
(902,692 |
) |
|
351,103 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting |
7,003,396 |
|
|
2,934,047 |
|
|
— |
|
|
(729 |
) |
|
9,936,714 |
|
Other property and equipment |
91,637 |
|
|
751 |
|
|
— |
|
|
— |
|
|
92,388 |
|
Accumulated depletion, depreciation, amortization and impairment |
(4,506,267 |
) |
|
(39 |
) |
|
— |
|
|
— |
|
|
(4,506,306 |
) |
Property and equipment, net |
2,588,766 |
|
|
2,934,759 |
|
|
— |
|
|
(729 |
) |
|
5,522,796 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
2,723,140 |
|
|
— |
|
|
53,380 |
|
|
(2,543,991 |
) |
|
232,529 |
|
Long-term derivative instruments |
3,530 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,530 |
|
Inventories |
6,800 |
|
|
1,434 |
|
|
— |
|
|
— |
|
|
8,234 |
|
Other assets |
13,018 |
|
|
4,020 |
|
|
— |
|
|
— |
|
|
17,038 |
|
Total other assets |
2,746,488 |
|
|
5,454 |
|
|
53,380 |
|
|
(2,543,991 |
) |
|
261,331 |
|
Total assets |
$ |
6,244,725 |
|
|
$ |
3,284,537 |
|
|
$ |
53,380 |
|
|
$ |
(3,447,412 |
) |
|
$ |
6,135,230 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
464,426 |
|
|
$ |
118,038 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
582,464 |
|
Accounts payable - intercompany |
240,310 |
|
|
662,254 |
|
|
128 |
|
|
(902,692 |
) |
|
— |
|
Asset retirement obligation - current |
120 |
|
|
— |
|
|
— |
|
|
— |
|
|
120 |
|
Short-term derivative instruments |
62,601 |
|
|
— |
|
|
— |
|
|
— |
|
|
62,601 |
|
Current maturities of long-term debt |
647 |
|
|
— |
|
|
— |
|
|
— |
|
|
647 |
|
Total current liabilities |
768,104 |
|
|
780,292 |
|
|
128 |
|
|
(902,692 |
) |
|
645,832 |
|
Long-term derivative instruments |
15,101 |
|
|
— |
|
|
— |
|
|
— |
|
|
15,101 |
|
Asset retirement obligation - long-term |
65,634 |
|
|
12,777 |
|
|
— |
|
|
— |
|
|
78,411 |
|
Deferred tax liability |
3,046 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,046 |
|
Long-term debt, net of current maturities |
2,100,825 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,100,825 |
|
Total liabilities |
2,952,710 |
|
|
793,069 |
|
|
128 |
|
|
(902,692 |
) |
|
2,843,215 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,732 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,732 |
|
Paid-in capital |
4,316,006 |
|
|
1,915,598 |
|
|
261,626 |
|
|
(2,177,224 |
) |
|
4,316,006 |
|
Accumulated other comprehensive (loss) income |
(46,354 |
) |
|
— |
|
|
(44,338 |
) |
|
44,338 |
|
|
(46,354 |
) |
Retained (deficit) earnings |
(979,369 |
) |
|
575,870 |
|
|
(164,036 |
) |
|
(411,834 |
) |
|
(979,369 |
) |
Total stockholders’ equity |
3,292,015 |
|
|
2,491,468 |
|
|
53,252 |
|
|
(2,544,720 |
) |
|
3,292,015 |
|
Total liabilities and stockholders’ equity
|
$ |
6,244,725 |
|
|
$ |
3,284,537 |
|
|
$ |
53,380 |
|
|
$ |
(3,447,412 |
) |
|
$ |
6,135,230 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
67,908 |
|
|
$ |
31,649 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
99,557 |
|
Accounts receivable - oil and natural gas sales |
112,686 |
|
|
34,087 |
|
|
— |
|
|
— |
|
|
146,773 |
|
Accounts receivable - joint interest and other |
15,435 |
|
|
20,005 |
|
|
— |
|
|
— |
|
|
35,440 |
|
Accounts receivable - intercompany |
554,439 |
|
|
63,374 |
|
|
— |
|
|
(617,813 |
) |
|
— |
|
Prepaid expenses and other current assets |
4,719 |
|
|
193 |
|
|
— |
|
|
— |
|
|
4,912 |
|
Short-term derivative instruments |
78,847 |
|
|
— |
|
|
— |
|
|
— |
|
|
78,847 |
|
Total current assets |
834,034 |
|
|
149,308 |
|
|
— |
|
|
(617,813 |
) |
|
365,529 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
6,562,147 |
|
|
2,607,738 |
|
|
— |
|
|
(729 |
) |
|
9,169,156 |
|
Other property and equipment |
86,711 |
|
|
43 |
|
|
— |
|
|
— |
|
|
86,754 |
|
Accumulated depletion, depreciation, amortization and impairment |
(4,153,696 |
) |
|
(37 |
) |
|
— |
|
|
— |
|
|
(4,153,733 |
) |
Property and equipment, net |
2,495,162 |
|
|
2,607,744 |
|
|
— |
|
|
(729 |
) |
|
5,102,177 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
2,361,575 |
|
|
77,744 |
|
|
57,641 |
|
|
(2,194,848 |
) |
|
302,112 |
|
Long-term derivative instruments |
8,685 |
|
|
— |
|
|
— |
|
|
— |
|
|
8,685 |
|
Deferred tax asset |
1,208 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,208 |
|
Inventories |
5,816 |
|
|
2,411 |
|
|
— |
|
|
— |
|
|
8,227 |
|
Other assets |
12,483 |
|
|
7,331 |
|
|
— |
|
|
— |
|
|
19,814 |
|
Total other assets |
2,389,767 |
|
|
87,486 |
|
|
57,641 |
|
|
(2,194,848 |
) |
|
340,046 |
|
Total assets |
$ |
5,718,963 |
|
|
$ |
2,844,538 |
|
|
$ |
57,641 |
|
|
$ |
(2,813,390 |
) |
|
$ |
5,807,752 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
416,249 |
|
|
$ |
137,361 |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
553,609 |
|
Accounts payable - intercompany |
63,373 |
|
|
554,313 |
|
|
127 |
|
|
(617,813 |
) |
|
— |
|
Asset retirement obligation - current |
120 |
|
|
— |
|
|
— |
|
|
— |
|
|
120 |
|
Short-term derivative instruments |
32,534 |
|
|
— |
|
|
— |
|
|
— |
|
|
32,534 |
|
Current maturities of long-term debt |
622 |
|
|
— |
|
|
— |
|
|
— |
|
|
622 |
|
Total current liabilities |
512,898 |
|
|
691,674 |
|
|
127 |
|
|
(617,814 |
) |
|
586,885 |
|
Long-term derivative instruments |
2,989 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,989 |
|
Asset retirement obligation - long-term |
63,141 |
|
|
11,839 |
|
|
— |
|
|
— |
|
|
74,980 |
|
Other non-current liabilities |
— |
|
|
2,963 |
|
|
— |
|
|
— |
|
|
2,963 |
|
Long-term debt, net of current maturities |
2,038,321 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,038,321 |
|
Total liabilities |
2,617,349 |
|
|
706,476 |
|
|
127 |
|
|
(617,814 |
) |
|
2,706,138 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,831 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,831 |
|
Paid-in capital |
4,416,250 |
|
|
1,915,598 |
|
|
259,307 |
|
|
(2,174,905 |
) |
|
4,416,250 |
|
Accumulated other comprehensive (loss) income |
(40,539 |
) |
|
— |
|
|
(38,593 |
) |
|
38,593 |
|
|
(40,539 |
) |
Retained (deficit) earnings |
(1,275,928 |
) |
|
222,464 |
|
|
(163,200 |
) |
|
(59,264 |
) |
|
(1,275,928 |
) |
Total stockholders’ equity |
3,101,614 |
|
|
2,138,062 |
|
|
57,514 |
|
|
(2,195,576 |
) |
|
3,101,614 |
|
Total liabilities and stockholders’ equity
|
$ |
5,718,963 |
|
|
$ |
2,844,538 |
|
|
$ |
57,641 |
|
|
$ |
(2,813,390 |
) |
|
$ |
5,807,752 |
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
235,683 |
|
|
$ |
125,279 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
360,962 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
16,502 |
|
|
5,823 |
|
|
— |
|
|
— |
|
|
22,325 |
|
Production taxes |
4,505 |
|
|
4,843 |
|
|
— |
|
|
— |
|
|
9,348 |
|
Midstream gathering and processing |
54,397 |
|
|
24,516 |
|
|
— |
|
|
— |
|
|
78,913 |
|
Depreciation, depletion and amortization |
119,914 |
|
|
1 |
|
|
— |
|
|
— |
|
|
119,915 |
|
General and administrative |
16,314 |
|
|
(467 |
) |
|
1 |
|
|
— |
|
|
15,848 |
|
Accretion expense |
812 |
|
|
225 |
|
|
— |
|
|
— |
|
|
1,037 |
|
|
212,444 |
|
|
34,941 |
|
|
1 |
|
|
— |
|
|
247,386 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
23,239 |
|
|
90,338 |
|
|
(1 |
) |
|
— |
|
|
113,576 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
34,254 |
|
|
(1,001 |
) |
|
— |
|
|
— |
|
|
33,253 |
|
Interest income |
(86 |
) |
|
(6 |
) |
|
— |
|
|
— |
|
|
(92 |
) |
Litigation settlement |
917 |
|
|
— |
|
|
— |
|
|
— |
|
|
917 |
|
Gain on sale of equity method investments |
(2,733 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,733 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(104,226 |
) |
|
(1 |
) |
|
275 |
|
|
91,094 |
|
|
(12,858 |
) |
Other income |
(37 |
) |
|
(24 |
) |
|
— |
|
|
— |
|
|
(61 |
) |
|
(71,911 |
) |
|
(1,032 |
) |
|
275 |
|
|
91,094 |
|
|
18,426 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
95,150 |
|
|
91,370 |
|
|
(276 |
) |
|
(91,094 |
) |
|
95,150 |
|
INCOME TAX BENEFIT |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
95,150 |
|
|
$ |
91,370 |
|
|
$ |
(276 |
) |
|
$ |
(91,094 |
) |
|
$ |
95,150 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
188,390 |
|
|
$ |
77,108 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
265,498 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
16,019 |
|
|
4,001 |
|
|
— |
|
|
— |
|
|
20,020 |
|
Production taxes |
4,052 |
|
|
1,367 |
|
|
— |
|
|
— |
|
|
5,419 |
|
Midstream gathering and processing |
52,725 |
|
|
16,647 |
|
|
— |
|
|
— |
|
|
69,372 |
|
Depreciation, depletion and amortization |
106,649 |
|
|
1 |
|
|
— |
|
|
— |
|
|
106,650 |
|
General and administrative |
13,956 |
|
|
(892 |
) |
|
1 |
|
|
— |
|
|
13,065 |
|
Accretion expense |
335 |
|
|
121 |
|
|
— |
|
|
— |
|
|
456 |
|
Acquisition expense |
(5 |
) |
|
38 |
|
|
— |
|
|
— |
|
|
33 |
|
|
193,731 |
|
|
21,283 |
|
|
1 |
|
|
— |
|
|
215,015 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS |
(5,341 |
) |
|
55,825 |
|
|
(1 |
) |
|
— |
|
|
50,483 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
27,914 |
|
|
(784 |
) |
|
— |
|
|
— |
|
|
27,130 |
|
Interest income |
(29 |
) |
|
(8 |
) |
|
— |
|
|
— |
|
|
(37 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(53,880 |
) |
|
128 |
|
|
296 |
|
|
56,193 |
|
|
2,737 |
|
Other income |
(344 |
) |
|
(1 |
) |
|
— |
|
|
— |
|
|
(345 |
) |
|
(26,339 |
) |
|
(665 |
) |
|
296 |
|
|
56,193 |
|
|
29,485 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
20,998 |
|
|
56,490 |
|
|
(297 |
) |
|
(56,193 |
) |
|
20,998 |
|
INCOME TAX EXPENSE |
2,763 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,763 |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
18,235 |
|
|
$ |
56,490 |
|
|
$ |
(297 |
) |
|
$ |
(56,193 |
) |
|
$ |
18,235 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
596,018 |
|
|
$ |
343,076 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
939,094 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
46,926 |
|
|
17,217 |
|
|
— |
|
|
— |
|
|
64,143 |
|
Production taxes |
13,309 |
|
|
10,552 |
|
|
— |
|
|
— |
|
|
23,861 |
|
Midstream gathering and processing |
152,605 |
|
|
61,941 |
|
|
— |
|
|
— |
|
|
214,546 |
|
Depreciation, depletion, and amortization |
352,846 |
|
|
2 |
|
|
— |
|
|
— |
|
|
352,848 |
|
General and administrative |
45,100 |
|
|
(2,148 |
) |
|
3 |
|
|
— |
|
|
42,955 |
|
Accretion expense |
2,397 |
|
|
659 |
|
|
— |
|
|
— |
|
|
3,056 |
|
|
613,183 |
|
|
88,223 |
|
|
3 |
|
|
— |
|
|
701,409 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS |
(17,165 |
) |
|
254,853 |
|
|
(3 |
) |
|
— |
|
|
237,685 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
103,310 |
|
|
(2,388 |
) |
|
— |
|
|
— |
|
|
100,922 |
|
Interest income |
(144 |
) |
|
(18 |
) |
|
— |
|
|
— |
|
|
(162 |
) |
Litigation settlement |
917 |
|
|
— |
|
|
— |
|
|
— |
|
|
917 |
|
Insurance proceeds |
(231 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(231 |
) |
Gain on sale of equity method investments |
(28,349 |
) |
|
(96,419 |
) |
|
— |
|
|
— |
|
|
(124,768 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(387,991 |
) |
|
(694 |
) |
|
833 |
|
|
352,570 |
|
|
(35,282 |
) |
Other (income) expense |
(1,167 |
) |
|
(34 |
) |
|
— |
|
|
1,000 |
|
|
(201 |
) |
|
(313,655 |
) |
|
(99,553 |
) |
|
833 |
|
|
353,570 |
|
|
(58,805 |
) |
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
296,490 |
|
|
354,406 |
|
|
(836 |
) |
|
(353,570 |
) |
|
296,490 |
|
INCOME TAX BENEFIT |
(69 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(69 |
) |
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
296,559 |
|
|
$ |
354,406 |
|
|
$ |
(836 |
) |
|
$ |
(353,570 |
) |
|
$ |
296,559 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
710,184 |
|
|
$ |
212,271 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
922,455 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
49,891 |
|
|
10,153 |
|
|
— |
|
|
— |
|
|
60,044 |
|
Production taxes |
10,799 |
|
|
3,665 |
|
|
— |
|
|
— |
|
|
14,464 |
|
Midstream gathering and processing |
132,740 |
|
|
43,518 |
|
|
— |
|
|
— |
|
|
176,258 |
|
Depreciation, depletion, and amortization |
254,884 |
|
|
3 |
|
|
— |
|
|
— |
|
|
254,887 |
|
General and administrative |
39,882 |
|
|
(1,963 |
) |
|
3 |
|
|
— |
|
|
37,922 |
|
Accretion expense |
908 |
|
|
240 |
|
|
— |
|
|
— |
|
|
1,148 |
|
Acquisition expense |
— |
|
|
2,391 |
|
|
— |
|
|
— |
|
|
2,391 |
|
|
489,104 |
|
|
58,007 |
|
|
3 |
|
|
— |
|
|
547,114 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
221,080 |
|
|
154,264 |
|
|
(3 |
) |
|
— |
|
|
375,341 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
79,095 |
|
|
(4,298 |
) |
|
— |
|
|
— |
|
|
74,797 |
|
Interest income |
(913 |
) |
|
(14 |
) |
|
— |
|
|
— |
|
|
(927 |
) |
Gain on sale of equity method investments |
(12,523 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12,523 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(124,446 |
) |
|
2,586 |
|
|
869 |
|
|
154,459 |
|
|
33,468 |
|
Other (income) expense |
(1,522 |
) |
|
(241 |
) |
|
— |
|
|
900 |
|
|
(863 |
) |
|
(60,309 |
) |
|
(1,967 |
) |
|
869 |
|
|
155,359 |
|
|
93,952 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
281,389 |
|
|
156,231 |
|
|
(872 |
) |
|
(155,359 |
) |
|
281,389 |
|
INCOME TAX EXPENSE |
2,763 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,763 |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
278,626 |
|
|
$ |
156,231 |
|
|
$ |
(872 |
) |
|
$ |
(155,359 |
) |
|
$ |
278,626 |
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
95,150 |
|
|
$ |
91,370 |
|
|
$ |
(276 |
) |
|
$ |
(91,094 |
) |
|
$ |
95,150 |
|
Foreign currency translation adjustment |
3,052 |
|
|
103 |
|
|
2,949 |
|
|
(3,052 |
) |
|
3,052 |
|
Other comprehensive income (loss) |
3,052 |
|
|
103 |
|
|
2,949 |
|
|
(3,052 |
) |
|
3,052 |
|
Comprehensive income (loss) |
$ |
98,202 |
|
|
$ |
91,473 |
|
|
$ |
2,673 |
|
|
$ |
(94,146 |
) |
|
$ |
98,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
18,235 |
|
|
$ |
56,490 |
|
|
$ |
(297 |
) |
|
$ |
(56,193 |
) |
|
$ |
18,235 |
|
Foreign currency translation adjustment |
6,832 |
|
|
158 |
|
|
6,674 |
|
|
(6,832 |
) |
|
6,832 |
|
Other comprehensive income (loss) |
6,832 |
|
|
158 |
|
|
6,674 |
|
|
(6,832 |
) |
|
6,832 |
|
Comprehensive income (loss) |
$ |
25,067 |
|
|
$ |
56,648 |
|
|
$ |
6,377 |
|
|
$ |
(63,025 |
) |
|
$ |
25,067 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
296,559 |
|
|
$ |
354,406 |
|
|
$ |
(836 |
) |
|
$ |
(353,570 |
) |
|
$ |
296,559 |
|
Foreign currency translation adjustment |
(5,815 |
) |
|
(70 |
) |
|
(5,745 |
) |
|
5,815 |
|
|
(5,815 |
) |
Other comprehensive (loss) income |
(5,815 |
) |
|
(70 |
) |
|
(5,745 |
) |
|
5,815 |
|
|
(5,815 |
) |
Comprehensive income (loss) |
$ |
290,744 |
|
|
$ |
354,336 |
|
|
$ |
(6,581 |
) |
|
$ |
(347,755 |
) |
|
$ |
290,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
Net income (loss) |
$ |
278,626 |
|
|
$ |
156,231 |
|
|
$ |
(872 |
) |
|
$ |
(155,359 |
) |
|
$ |
278,626 |
|
Foreign currency translation adjustment |
12,719 |
|
|
232 |
|
|
12,487 |
|
|
(12,719 |
) |
|
12,719 |
|
Other comprehensive income (loss) |
12,719 |
|
|
232 |
|
|
12,487 |
|
|
(12,719 |
) |
|
12,719 |
|
Comprehensive income (loss) |
$ |
291,345 |
|
|
$ |
156,463 |
|
|
$ |
11,615 |
|
|
$ |
(168,078 |
) |
|
$ |
291,345 |
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
416,833 |
|
|
$ |
192,123 |
|
|
$ |
(1 |
) |
|
$ |
1 |
|
|
$ |
608,956 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(344,330 |
) |
|
(188,415 |
) |
|
(2,318 |
) |
|
2,318 |
|
|
(532,745 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
(51,197 |
) |
|
— |
|
|
2,319 |
|
|
(2,319 |
) |
|
(51,197 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash, cash equivalents and restricted cash |
21,306 |
|
|
3,708 |
|
|
— |
|
|
— |
|
|
25,014 |
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at beginning of period |
67,908 |
|
|
31,649 |
|
|
— |
|
|
— |
|
|
99,557 |
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at end of period |
$ |
89,214 |
|
|
$ |
35,357 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
124,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
310,624 |
|
|
$ |
181,108 |
|
|
$ |
(1 |
) |
|
$ |
2 |
|
|
$ |
491,733 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(2,034,554 |
) |
|
(1,554,063 |
) |
|
(1,843 |
) |
|
1,408,980 |
|
|
(2,181,480 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
354,143 |
|
|
1,407,137 |
|
|
1,845 |
|
|
(1,408,982 |
) |
|
354,143 |
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash, cash equivalents and restricted cash |
(1,369,787 |
) |
|
34,182 |
|
|
1 |
|
|
— |
|
|
(1,335,604 |
) |
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at beginning of period |
1,458,882 |
|
|
1,993 |
|
|
— |
|
|
— |
|
|
1,460,875 |
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at end of period |
$ |
89,095 |
|
|
$ |
36,175 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
125,271 |
|
|