CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| CONDENSED CONSOLIDATING BALANCE SHEETS |
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
6,279 |
|
|
$ |
3,715 |
|
|
$ |
130 |
|
|
$ |
— |
|
|
$ |
10,124 |
|
Accounts receivable - oil and natural gas sales |
857 |
|
|
111,800 |
|
|
— |
|
|
— |
|
|
112,657 |
|
Accounts receivable - joint interest and other |
6,909 |
|
|
34,418 |
|
|
— |
|
|
— |
|
|
41,327 |
|
Accounts receivable - intercompany |
953,446 |
|
|
625,306 |
|
|
— |
|
|
(1,578,752 |
) |
|
— |
|
Prepaid expenses and other current assets |
3,886 |
|
|
1,697 |
|
|
75 |
|
|
— |
|
|
5,658 |
|
Short-term derivative instruments |
134,571 |
|
|
— |
|
|
— |
|
|
— |
|
|
134,571 |
|
Total current assets |
1,105,948 |
|
|
776,936 |
|
|
205 |
|
|
(1,578,752 |
) |
|
304,337 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting |
1,312,715 |
|
|
9,239,581 |
|
|
146 |
|
|
(729 |
) |
|
10,551,713 |
|
Other property and equipment |
92,163 |
|
|
751 |
|
|
3,319 |
|
|
— |
|
|
96,233 |
|
Accumulated depletion, depreciation, amortization and impairment |
(1,416,261 |
) |
|
(3,646,931 |
) |
|
(221 |
) |
|
— |
|
|
(5,063,413 |
) |
Property and equipment, net |
(11,383 |
) |
|
5,593,401 |
|
|
3,244 |
|
|
(729 |
) |
|
5,584,533 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
5,106,904 |
|
|
— |
|
|
49,545 |
|
|
(5,082,487 |
) |
|
73,962 |
|
Long-term derivative instruments |
23,419 |
|
|
— |
|
|
— |
|
|
— |
|
|
23,419 |
|
Deferred tax asset |
205,853 |
|
|
— |
|
|
— |
|
|
— |
|
|
205,853 |
|
Inventories |
94 |
|
|
6,928 |
|
|
— |
|
|
— |
|
|
7,022 |
|
Operating lease assets |
13,920 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,920 |
|
Operating lease assets - related parties |
48,449 |
|
|
— |
|
|
— |
|
|
— |
|
|
48,449 |
|
Other assets |
11,333 |
|
|
320 |
|
|
— |
|
|
— |
|
|
11,653 |
|
Total other assets |
5,409,972 |
|
|
7,248 |
|
|
49,545 |
|
|
(5,082,487 |
) |
|
384,278 |
|
Total assets |
$ |
6,504,537 |
|
|
$ |
6,377,585 |
|
|
$ |
52,994 |
|
|
$ |
(6,661,968 |
) |
|
$ |
6,273,148 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
69,863 |
|
|
$ |
369,129 |
|
|
$ |
27 |
|
|
$ |
— |
|
|
$ |
439,019 |
|
Accounts payable - intercompany |
660,364 |
|
|
914,401 |
|
|
3,987 |
|
|
(1,578,752 |
) |
|
— |
|
Short-term derivative instruments |
429 |
|
|
— |
|
|
— |
|
|
— |
|
|
429 |
|
Current portion of operating lease liabilities |
12,848 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,848 |
|
Current portion of operating lease liabilities - related parties |
21,017 |
|
|
— |
|
|
— |
|
|
— |
|
|
21,017 |
|
Current maturities of long-term debt |
622 |
|
|
— |
|
|
— |
|
|
— |
|
|
622 |
|
Total current liabilities |
765,143 |
|
|
1,283,530 |
|
|
4,014 |
|
|
(1,578,752 |
) |
|
473,935 |
|
Long-term derivative instruments |
72,040 |
|
|
— |
|
|
— |
|
|
— |
|
|
72,040 |
|
Asset retirement obligation - long-term |
— |
|
|
59,819 |
|
|
— |
|
|
— |
|
|
59,819 |
|
Uncertain tax position liability |
3,127 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,127 |
|
Non-current operating lease liabilities |
1,072 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,072 |
|
Non-current operating lease liabilities - related parties |
27,432 |
|
|
— |
|
|
— |
|
|
— |
|
|
27,432 |
|
Long-term debt, net of current maturities |
2,076,569 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,076,569 |
|
Total liabilities |
2,945,383 |
|
|
1,343,349 |
|
|
4,014 |
|
|
(1,578,752 |
) |
|
2,713,994 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,597 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,597 |
|
Paid-in capital |
4,205,158 |
|
|
4,170,573 |
|
|
262,061 |
|
|
(4,432,634 |
) |
|
4,205,158 |
|
Accumulated other comprehensive loss |
(50,679 |
) |
|
— |
|
|
(48,548 |
) |
|
48,548 |
|
|
(50,679 |
) |
(Accumulated deficit) retained earnings |
(596,922 |
) |
|
863,663 |
|
|
(164,533 |
) |
|
(699,130 |
) |
|
(596,922 |
) |
Total stockholders’ equity |
3,559,154 |
|
|
5,034,236 |
|
|
48,980 |
|
|
(5,083,216 |
) |
|
3,559,154 |
|
Total liabilities and stockholders’ equity
|
$ |
6,504,537 |
|
|
$ |
6,377,585 |
|
|
$ |
52,994 |
|
|
$ |
(6,661,968 |
) |
|
$ |
6,273,148 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
25,585 |
|
|
$ |
26,711 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
52,297 |
|
Accounts receivable - oil and natural gas sales |
146,075 |
|
|
64,125 |
|
|
— |
|
|
— |
|
|
210,200 |
|
Accounts receivable - joint interest and other |
16,212 |
|
|
6,285 |
|
|
— |
|
|
— |
|
|
22,497 |
|
Accounts receivable - intercompany |
671,633 |
|
|
319,464 |
|
|
— |
|
|
(991,097 |
) |
|
— |
|
Prepaid expenses and other current assets |
7,843 |
|
|
2,174 |
|
|
— |
|
|
— |
|
|
10,017 |
|
Short-term derivative instruments |
21,352 |
|
|
— |
|
|
— |
|
|
— |
|
|
21,352 |
|
Total current assets |
888,700 |
|
|
418,759 |
|
|
1 |
|
|
(991,097 |
) |
|
316,363 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
7,044,550 |
|
|
2,983,015 |
|
|
— |
|
|
(729 |
) |
|
10,026,836 |
|
Other property and equipment |
91,916 |
|
|
751 |
|
|
— |
|
|
— |
|
|
92,667 |
|
Accumulated depletion, depreciation, amortization and impairment |
(4,640,059 |
) |
|
(39 |
) |
|
— |
|
|
— |
|
|
(4,640,098 |
) |
Property and equipment, net |
2,496,407 |
|
|
2,983,727 |
|
|
— |
|
|
(729 |
) |
|
5,479,405 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
2,856,988 |
|
|
— |
|
|
44,259 |
|
|
(2,665,126 |
) |
|
236,121 |
|
Inventories |
4,210 |
|
|
1,134 |
|
|
— |
|
|
— |
|
|
5,344 |
|
Other assets |
12,624 |
|
|
1,178 |
|
|
— |
|
|
1 |
|
|
13,803 |
|
Total other assets |
2,873,822 |
|
|
2,312 |
|
|
44,259 |
|
|
(2,665,125 |
) |
|
255,268 |
|
Total assets |
$ |
6,258,929 |
|
|
$ |
3,404,798 |
|
|
$ |
44,260 |
|
|
$ |
(3,656,951 |
) |
|
$ |
6,051,036 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
419,107 |
|
|
$ |
99,273 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
518,380 |
|
Accounts payable - intercompany |
320,259 |
|
|
670,708 |
|
|
130 |
|
|
(991,097 |
) |
|
— |
|
Short-term derivative instruments |
20,401 |
|
|
— |
|
|
— |
|
|
— |
|
|
20,401 |
|
Current maturities of long-term debt |
651 |
|
|
— |
|
|
— |
|
|
— |
|
|
651 |
|
Total current liabilities |
760,418 |
|
|
769,981 |
|
|
130 |
|
|
(991,097 |
) |
|
539,432 |
|
Long-term derivative instruments |
13,992 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,992 |
|
Asset retirement obligation - long-term |
66,859 |
|
|
13,093 |
|
|
— |
|
|
— |
|
|
79,952 |
|
Uncertain tax position liability |
3,127 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,127 |
|
Long-term debt, net of current maturities |
2,086,765 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,086,765 |
|
Total liabilities |
2,931,161 |
|
|
783,074 |
|
|
130 |
|
|
(991,097 |
) |
|
2,723,268 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,630 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,630 |
|
Paid-in capital |
4,227,532 |
|
|
1,915,598 |
|
|
261,626 |
|
|
(2,177,224 |
) |
|
4,227,532 |
|
Accumulated other comprehensive loss |
(56,026 |
) |
|
— |
|
|
(53,783 |
) |
|
53,783 |
|
|
(56,026 |
) |
(Accumulated deficit) retained earnings |
(845,368 |
) |
|
706,126 |
|
|
(163,713 |
) |
|
(542,413 |
) |
|
(845,368 |
) |
Total stockholders’ equity |
3,327,768 |
|
|
2,621,724 |
|
|
44,130 |
|
|
(2,665,854 |
) |
|
3,327,768 |
|
Total liabilities and stockholders’ equity
|
$ |
6,258,929 |
|
|
$ |
3,404,798 |
|
|
$ |
44,260 |
|
|
$ |
(3,656,951 |
) |
|
$ |
6,051,036 |
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
27,358 |
|
|
$ |
257,817 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
285,175 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
(231 |
) |
|
22,704 |
|
|
— |
|
|
— |
|
|
22,473 |
|
Production taxes |
36 |
|
|
6,529 |
|
|
— |
|
|
— |
|
|
6,565 |
|
Midstream gathering and processing expenses |
— |
|
|
78,435 |
|
|
— |
|
|
— |
|
|
78,435 |
|
Depreciation, depletion and amortization |
2,699 |
|
|
142,625 |
|
|
166 |
|
|
— |
|
|
145,490 |
|
Impairment of oil and natural gas properties |
— |
|
|
35,647 |
|
|
— |
|
|
— |
|
|
35,647 |
|
General and administrative expenses |
27,218 |
|
|
(12,675 |
) |
|
116 |
|
|
— |
|
|
14,659 |
|
Accretion expense |
— |
|
|
747 |
|
|
— |
|
|
— |
|
|
747 |
|
|
29,722 |
|
|
274,012 |
|
|
282 |
|
|
— |
|
|
304,016 |
|
|
|
|
|
|
|
|
|
|
|
LOSS FROM OPERATIONS |
(2,364 |
) |
|
(16,195 |
) |
|
(282 |
) |
|
— |
|
|
(18,841 |
) |
|
|
|
|
|
|
|
|
|
|
OTHER EXPENSE (INCOME): |
|
|
|
|
|
|
|
|
|
Interest expense |
35,105 |
|
|
(1,010 |
) |
|
— |
|
|
— |
|
|
34,095 |
|
Interest income |
(187 |
) |
|
(151 |
) |
|
— |
|
|
— |
|
|
(338 |
) |
Gain on debt extinguishment |
(23,600 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(23,600 |
) |
Loss from equity method investments and investments in subsidiaries |
62,760 |
|
|
— |
|
|
40 |
|
|
(19,718 |
) |
|
43,082 |
|
Other (income) expense |
(1,168 |
) |
|
3,362 |
|
|
— |
|
|
1,000 |
|
|
3,194 |
|
|
72,910 |
|
|
2,201 |
|
|
40 |
|
|
(18,718 |
) |
|
56,433 |
|
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE INCOME TAXES |
(75,274 |
) |
|
(18,396 |
) |
|
(322 |
) |
|
18,718 |
|
|
(75,274 |
) |
INCOME TAX BENEFIT |
(26,522 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(26,522 |
) |
|
|
|
|
|
|
|
|
|
|
NET LOSS |
$ |
(48,752 |
) |
|
$ |
(18,396 |
) |
|
$ |
(322 |
) |
|
$ |
18,718 |
|
|
$ |
(48,752 |
) |
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 expenses |
54,397 |
|
|
24,516 |
|
|
— |
|
|
— |
|
|
78,913 |
|
Depreciation, depletion and amortization |
119,914 |
|
|
1 |
|
|
— |
|
|
— |
|
|
119,915 |
|
General and administrative expenses |
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 |
) |
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 expense (income) |
880 |
|
|
(24 |
) |
|
— |
|
|
— |
|
|
856 |
|
|
(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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
493,895 |
|
|
$ |
570,852 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,064,747 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
26,918 |
|
|
37,750 |
|
|
— |
|
|
— |
|
|
64,668 |
|
Production taxes |
6,117 |
|
|
16,467 |
|
|
— |
|
|
— |
|
|
22,584 |
|
Midstream gathering and processing expenses |
71,420 |
|
|
149,312 |
|
|
— |
|
|
— |
|
|
220,732 |
|
Depreciation, depletion, and amortization |
201,263 |
|
|
187,390 |
|
|
221 |
|
|
— |
|
|
388,874 |
|
Impairment of oil and gas properties |
— |
|
|
35,647 |
|
|
— |
|
|
— |
|
|
35,647 |
|
General and administrative expenses |
56,195 |
|
|
(16,933 |
) |
|
220 |
|
|
— |
|
|
39,482 |
|
Accretion expense |
1,389 |
|
|
1,784 |
|
|
— |
|
|
— |
|
|
3,173 |
|
|
363,302 |
|
|
411,417 |
|
|
441 |
|
|
— |
|
|
775,160 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
130,593 |
|
|
159,435 |
|
|
(441 |
) |
|
— |
|
|
289,587 |
|
|
|
|
|
|
|
|
|
|
|
OTHER EXPENSE (INCOME): |
|
|
|
|
|
|
|
|
|
Interest expense |
105,364 |
|
|
(2,269 |
) |
|
— |
|
|
— |
|
|
103,095 |
|
Interest income |
(454 |
) |
|
(195 |
) |
|
— |
|
|
— |
|
|
(649 |
) |
Gain on debt extinguishment |
(23,600 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(23,600 |
) |
Loss from equity method investments and investments in subsidiaries |
7,295 |
|
|
— |
|
|
379 |
|
|
156,717 |
|
|
164,391 |
|
Other (income) expense |
(605 |
) |
|
3,362 |
|
|
— |
|
|
1,000 |
|
|
3,757 |
|
|
88,000 |
|
|
898 |
|
|
379 |
|
|
157,717 |
|
|
246,994 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
42,593 |
|
|
158,537 |
|
|
(820 |
) |
|
(157,717 |
) |
|
42,593 |
|
INCOME TAX BENEFIT |
(205,853 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(205,853 |
) |
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
248,446 |
|
|
$ |
158,537 |
|
|
$ |
(820 |
) |
|
$ |
(157,717 |
) |
|
$ |
248,446 |
|
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 expenses |
152,605 |
|
|
61,941 |
|
|
— |
|
|
— |
|
|
214,546 |
|
Depreciation, depletion, and amortization |
352,846 |
|
|
2 |
|
|
— |
|
|
— |
|
|
352,848 |
|
General and administrative expenses |
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 |
) |
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 |
(481 |
) |
|
(34 |
) |
|
— |
|
|
1,000 |
|
|
485 |
|
|
(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 COMPREHENSIVE INCOME (LOSS) |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(48,752 |
) |
|
$ |
(18,396 |
) |
|
$ |
(322 |
) |
|
$ |
18,718 |
|
|
$ |
(48,752 |
) |
Foreign currency translation adjustment |
(2,064 |
) |
|
(43 |
) |
|
(2,021 |
) |
|
2,064 |
|
|
(2,064 |
) |
Other comprehensive loss |
(2,064 |
) |
|
(43 |
) |
|
(2,021 |
) |
|
2,064 |
|
|
(2,064 |
) |
Comprehensive loss |
$ |
(50,816 |
) |
|
$ |
(18,439 |
) |
|
$ |
(2,343 |
) |
|
$ |
20,782 |
|
|
$ |
(50,816 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
3,052 |
|
|
103 |
|
|
2,949 |
|
|
(3,052 |
) |
|
3,052 |
|
Comprehensive income |
$ |
98,202 |
|
|
$ |
91,473 |
|
|
$ |
2,673 |
|
|
$ |
(94,146 |
) |
|
$ |
98,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
248,446 |
|
|
$ |
158,537 |
|
|
$ |
(820 |
) |
|
$ |
(157,717 |
) |
|
$ |
248,446 |
|
Foreign currency translation adjustment |
5,347 |
|
|
112 |
|
|
5,235 |
|
|
(5,347 |
) |
|
5,347 |
|
Other comprehensive income |
5,347 |
|
|
112 |
|
|
5,235 |
|
|
(5,347 |
) |
|
5,347 |
|
Comprehensive income |
$ |
253,793 |
|
|
$ |
158,649 |
|
|
$ |
4,415 |
|
|
$ |
(163,064 |
) |
|
$ |
253,793 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
(5,815 |
) |
|
(70 |
) |
|
(5,745 |
) |
|
5,815 |
|
|
(5,815 |
) |
Comprehensive income (loss) |
$ |
290,744 |
|
|
$ |
354,336 |
|
|
$ |
(6,581 |
) |
|
$ |
(347,755 |
) |
|
$ |
290,744 |
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantors |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by operating activities |
$ |
(7,604 |
) |
|
$ |
621,511 |
|
|
$ |
3,445 |
|
|
$ |
3 |
|
|
$ |
617,355 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
9,178 |
|
|
(644,507 |
) |
|
(3,751 |
) |
|
432 |
|
|
(638,648 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
(20,880 |
) |
|
— |
|
|
435 |
|
|
(435 |
) |
|
(20,880 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash, cash equivalents and restricted cash |
(19,306 |
) |
|
(22,996 |
) |
|
129 |
|
|
— |
|
|
(42,173 |
) |
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at beginning of period |
25,585 |
|
|
26,711 |
|
|
1 |
|
|
— |
|
|
52,297 |
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at end of period |
$ |
6,279 |
|
|
$ |
3,715 |
|
|
$ |
130 |
|
|
$ |
— |
|
|
$ |
10,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
427,351 |
|
|
$ |
203,446 |
|
|
$ |
(1 |
) |
|
$ |
1 |
|
|
$ |
630,797 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(354,848 |
) |
|
(199,738 |
) |
|
(2,318 |
) |
|
2,318 |
|
|
(554,586 |
) |
|
|
|
|
|
|
|
|
|
|
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 |
|
|