Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Condensed consolidating balance sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
2,768 |
|
|
$ |
3,097 |
|
|
$ |
195 |
|
|
$ |
— |
|
|
$ |
6,060 |
|
Accounts receivable - oil and natural gas sales |
859 |
|
|
120,351 |
|
|
— |
|
|
— |
|
|
121,210 |
|
Accounts receivable - joint interest and other |
5,279 |
|
|
42,696 |
|
|
— |
|
|
— |
|
|
47,975 |
|
Accounts receivable - intercompany |
1,065,593 |
|
|
843,223 |
|
|
— |
|
|
(1,908,816 |
) |
|
— |
|
Prepaid expenses and other current assets |
4,047 |
|
|
308 |
|
|
76 |
|
|
— |
|
|
4,431 |
|
Short-term derivative instruments |
126,201 |
|
|
— |
|
|
— |
|
|
— |
|
|
126,201 |
|
Total current assets |
1,204,747 |
|
|
1,009,675 |
|
|
271 |
|
|
(1,908,816 |
) |
|
305,877 |
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting |
1,314,933 |
|
|
9,273,681 |
|
|
7,850 |
|
|
(729 |
) |
|
10,595,735 |
|
Other property and equipment |
92,650 |
|
|
50 |
|
|
4,019 |
|
|
— |
|
|
96,719 |
|
Accumulated depletion, depreciation, amortization and impairment |
(1,418,888 |
) |
|
(5,808,254 |
) |
|
(1,518 |
) |
|
— |
|
|
(7,228,660 |
) |
Property and equipment, net |
(11,305 |
) |
|
3,465,477 |
|
|
10,351 |
|
|
(729 |
) |
|
3,463,794 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
3,064,503 |
|
|
6,332 |
|
|
21,000 |
|
|
(3,059,791 |
) |
|
32,044 |
|
Long-term derivative instruments |
563 |
|
|
— |
|
|
— |
|
|
— |
|
|
563 |
|
Deferred tax asset |
7,563 |
|
|
— |
|
|
— |
|
|
— |
|
|
7,563 |
|
Inventories |
— |
|
|
5,182 |
|
|
— |
|
|
— |
|
|
5,182 |
|
Operating lease assets |
14,168 |
|
|
— |
|
|
— |
|
|
— |
|
|
14,168 |
|
Operating lease assets - related parties |
43,270 |
|
|
— |
|
|
— |
|
|
— |
|
|
43,270 |
|
Other assets |
10,026 |
|
|
332 |
|
|
|
|
|
|
|
|
10,358 |
|
Total other assets |
3,140,093 |
|
|
11,846 |
|
|
21,000 |
|
|
(3,059,791 |
) |
|
113,148 |
|
Total assets |
$ |
4,333,535 |
|
|
$ |
4,486,998 |
|
|
$ |
31,622 |
|
|
$ |
(4,969,336 |
) |
|
$ |
3,882,819 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
48,006 |
|
|
$ |
367,088 |
|
|
$ |
124 |
|
|
$ |
— |
|
|
$ |
415,218 |
|
Accounts payable - intercompany |
878,283 |
|
|
1,026,249 |
|
|
4,285 |
|
|
(1,908,817 |
) |
|
— |
|
Short-term derivative instruments |
303 |
|
|
— |
|
|
— |
|
|
— |
|
|
303 |
|
Current portion of operating lease liabilities |
13,826 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,826 |
|
Current portion of operating lease liabilities - related parties |
21,220 |
|
|
— |
|
|
— |
|
|
— |
|
|
21,220 |
|
Current maturities of long-term debt |
631 |
|
|
— |
|
|
— |
|
|
— |
|
|
631 |
|
Total current liabilities |
962,269 |
|
|
1,393,337 |
|
|
4,409 |
|
|
(1,908,817 |
) |
|
451,198 |
|
Long-term derivative instruments |
53,135 |
|
|
— |
|
|
— |
|
|
— |
|
|
53,135 |
|
Asset retirement obligation - long-term |
— |
|
|
58,322 |
|
|
2,033 |
|
|
— |
|
|
60,355 |
|
Uncertain tax position liability |
3,127 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,127 |
|
Non-current operating lease liabilities |
342 |
|
|
— |
|
|
— |
|
|
— |
|
|
342 |
|
Non-current operating lease liabilities - related parties |
22,050 |
|
|
— |
|
|
— |
|
|
— |
|
|
22,050 |
|
Long-term debt, net of current maturities |
1,978,020 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,978,020 |
|
Total liabilities |
3,018,943 |
|
|
1,451,659 |
|
|
6,442 |
|
|
(1,908,817 |
) |
|
2,568,227 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,597 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,597 |
|
Paid-in capital |
4,207,554 |
|
|
4,171,408 |
|
|
267,557 |
|
|
(4,438,965 |
) |
|
4,207,554 |
|
Accumulated other comprehensive loss |
(46,833 |
) |
|
— |
|
|
(44,763 |
) |
|
44,763 |
|
|
(46,833 |
) |
Accumulated deficit |
(2,847,726 |
) |
|
(1,136,069 |
) |
|
(197,614 |
) |
|
1,333,683 |
|
|
(2,847,726 |
) |
Total stockholders' equity |
1,314,592 |
|
|
3,035,339 |
|
|
25,180 |
|
|
(3,060,519 |
) |
|
1,314,592 |
|
Total liabilities and stockholders' equity |
$ |
4,333,535 |
|
|
$ |
4,486,998 |
|
|
$ |
31,622 |
|
|
$ |
(4,969,336 |
) |
|
$ |
3,882,819 |
|
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 |
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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
524,089 |
|
|
$ |
821,919 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,346,008 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
26,923 |
|
|
56,075 |
|
|
— |
|
|
— |
|
|
82,998 |
|
Production taxes |
6,117 |
|
|
22,454 |
|
|
— |
|
|
— |
|
|
28,571 |
|
Midstream gathering and processing expenses |
71,420 |
|
|
220,305 |
|
|
— |
|
|
— |
|
|
291,725 |
|
Depreciation, depletion and amortization |
203,921 |
|
|
345,504 |
|
|
683 |
|
|
— |
|
|
550,108 |
|
Impairment of oil and gas properties |
— |
|
|
2,039,770 |
|
|
— |
|
|
— |
|
|
2,039,770 |
|
General and administrative expenses |
71,219 |
|
|
(23,748 |
) |
|
508 |
|
|
— |
|
|
47,979 |
|
Restructuring costs |
4,611 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,611 |
|
Accretion expense |
1,390 |
|
|
2,549 |
|
|
— |
|
|
— |
|
|
3,939 |
|
|
385,601 |
|
|
2,662,909 |
|
|
1,191 |
|
|
— |
|
|
3,049,701 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
138,488 |
|
|
(1,840,990 |
) |
|
(1,191 |
) |
|
— |
|
|
(1,703,693 |
) |
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
144,645 |
|
|
(2,859 |
) |
|
— |
|
|
— |
|
|
141,786 |
|
Interest income |
(501 |
) |
|
(300 |
) |
|
— |
|
|
— |
|
|
(801 |
) |
Gain on debt extinguishment |
(48,630 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(48,630 |
) |
Loss (income) from equity method investments and investments in subsidiaries |
2,053,533 |
|
|
|
|
|
32,710 |
|
|
(1,876,095 |
) |
|
210,148 |
|
Other (income) expense, net |
(638 |
) |
|
3,364 |
|
|
— |
|
|
999 |
|
|
3,725 |
|
|
2,148,409 |
|
|
205 |
|
|
32,710 |
|
|
(1,875,096 |
) |
|
306,228 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME BEFORE INCOME TAXES |
(2,009,921 |
) |
|
(1,841,195 |
) |
|
(33,901 |
) |
|
1,875,096 |
|
|
(2,009,921 |
) |
INCOME TAX BENEFIT |
(7,563 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(7,563 |
) |
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME |
$ |
(2,002,358 |
) |
|
$ |
(1,841,195 |
) |
|
$ |
(33,901 |
) |
|
$ |
1,875,096 |
|
|
$ |
(2,002,358 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
839,241 |
|
|
$ |
515,803 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,355,044 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
66,947 |
|
|
24,693 |
|
|
— |
|
|
— |
|
|
91,640 |
|
Production taxes |
17,140 |
|
|
16,340 |
|
|
— |
|
|
— |
|
|
33,480 |
|
Midstream gathering and processing expenses |
199,607 |
|
|
90,581 |
|
|
— |
|
|
— |
|
|
290,188 |
|
Depreciation, depletion and amortization |
486,661 |
|
|
3 |
|
|
— |
|
|
— |
|
|
486,664 |
|
General and administrative expenses |
52,664 |
|
|
(2,673 |
) |
|
3 |
|
|
— |
|
|
49,994 |
|
Accretion expense |
3,228 |
|
|
891 |
|
|
— |
|
|
— |
|
|
4,119 |
|
|
826,247 |
|
|
129,835 |
|
|
3 |
|
|
— |
|
|
956,085 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
12,994 |
|
|
385,968 |
|
|
(3 |
) |
|
— |
|
|
398,959 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
144,533 |
|
|
(2,621 |
) |
|
— |
|
|
— |
|
|
141,912 |
|
Interest income |
(287 |
) |
|
(27 |
) |
|
— |
|
|
— |
|
|
(314 |
) |
Gain on sale of equity method investments |
(28,349 |
) |
|
(96,419 |
) |
|
— |
|
|
— |
|
|
(124,768 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(532,869 |
) |
|
(694 |
) |
|
510 |
|
|
483,149 |
|
|
(49,904 |
) |
Other (income) expense, net |
(525 |
) |
|
(33 |
) |
|
— |
|
|
2,100 |
|
|
1,542 |
|
|
(417,497 |
) |
|
(99,794 |
) |
|
510 |
|
|
485,249 |
|
|
(31,532 |
) |
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
430,491 |
|
|
485,762 |
|
|
(513 |
) |
|
(485,249 |
) |
|
430,491 |
|
INCOME TAX BENEFIT |
(69 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(69 |
) |
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
430,560 |
|
|
$ |
485,762 |
|
|
$ |
(513 |
) |
|
$ |
(485,249 |
) |
|
$ |
430,560 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
1,010,989 |
|
|
$ |
309,314 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,320,303 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
65,793 |
|
|
14,453 |
|
|
— |
|
|
— |
|
|
80,246 |
|
Production taxes |
15,100 |
|
|
6,026 |
|
|
— |
|
|
— |
|
|
21,126 |
|
Midstream gathering and processing expenses |
187,678 |
|
|
61,317 |
|
|
— |
|
|
— |
|
|
248,995 |
|
Depreciation, depletion and amortization |
364,625 |
|
|
4 |
|
|
— |
|
|
— |
|
|
364,629 |
|
Impairment of oil and natural gas properties |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
General and administrative expenses |
48,174 |
|
|
(2,654 |
) |
|
3 |
|
|
— |
|
|
45,523 |
|
Accretion expense |
1,246 |
|
|
365 |
|
|
— |
|
|
— |
|
|
1,611 |
|
Acquisition expense |
— |
|
|
2,392 |
|
|
— |
|
|
— |
|
|
2,392 |
|
|
682,616 |
|
|
81,903 |
|
|
3 |
|
|
— |
|
|
764,522 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
328,373 |
|
|
227,411 |
|
|
(3 |
) |
|
— |
|
|
555,781 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
120,147 |
|
|
(4,534 |
) |
|
— |
|
|
— |
|
|
115,613 |
|
Interest income |
(988 |
) |
|
(21 |
) |
|
— |
|
|
— |
|
|
(1,009 |
) |
Gain on sale of equity method investments |
(12,523 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12,523 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(213,607 |
) |
|
1,955 |
|
|
2,189 |
|
|
227,243 |
|
|
17,780 |
|
Other (income) expense, net |
(1,617 |
) |
|
(324 |
) |
|
— |
|
|
900 |
|
|
(1,041 |
) |
|
(108,588 |
) |
|
(2,924 |
) |
|
2,189 |
|
|
228,143 |
|
|
118,820 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
436,961 |
|
|
230,335 |
|
|
(2,192 |
) |
|
(228,143 |
) |
|
436,961 |
|
INCOME TAX EXPENSE |
1,809 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,809 |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
435,152 |
|
|
$ |
230,335 |
|
|
$ |
(2,192 |
) |
|
$ |
(228,143 |
) |
|
$ |
435,152 |
|
|
| Condensed consolidating statements of comprehensive income (loss) |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
$ |
(2,002,358 |
) |
|
$ |
(1,841,195 |
) |
|
$ |
(33,901 |
) |
|
$ |
1,875,096 |
|
|
$ |
(2,002,358 |
) |
Foreign currency translation adjustment |
9,193 |
|
|
173 |
|
|
9,020 |
|
|
(9,193 |
) |
|
9,193 |
|
Other comprehensive loss (income) |
9,193 |
|
|
173 |
|
|
9,020 |
|
|
(9,193 |
) |
|
9,193 |
|
Comprehensive income (loss) |
$ |
(1,993,165 |
) |
|
$ |
(1,841,022 |
) |
|
$ |
(24,881 |
) |
|
$ |
1,865,903 |
|
|
$ |
(1,993,165 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
Net income (loss) |
$ |
430,560 |
|
|
$ |
485,762 |
|
|
$ |
(513 |
) |
|
$ |
(485,249 |
) |
|
$ |
430,560 |
|
Foreign currency translation adjustment |
(15,487 |
) |
|
(297 |
) |
|
(15,190 |
) |
|
15,487 |
|
|
(15,487 |
) |
Other comprehensive (loss) income |
(15,487 |
) |
|
(297 |
) |
|
(15,190 |
) |
|
15,487 |
|
|
(15,487 |
) |
Comprehensive income (loss) |
$ |
415,073 |
|
|
$ |
485,465 |
|
|
$ |
(15,703 |
) |
|
$ |
(469,762 |
) |
|
$ |
415,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
Net income (loss) |
$ |
435,152 |
|
|
$ |
230,335 |
|
|
$ |
(2,192 |
) |
|
$ |
(228,143 |
) |
|
$ |
435,152 |
|
Foreign currency translation adjustment |
12,519 |
|
|
182 |
|
|
12,337 |
|
|
(12,519 |
) |
|
$ |
12,519 |
|
Other comprehensive income (loss) |
12,519 |
|
|
182 |
|
|
12,337 |
|
|
(12,519 |
) |
|
12,519 |
|
Comprehensive income (loss) |
$ |
447,671 |
|
|
$ |
230,517 |
|
|
$ |
10,145 |
|
|
$ |
(240,662 |
) |
|
$ |
447,671 |
|
|
| Condensed consolidating statements of cash flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
64,037 |
|
|
$ |
656,443 |
|
|
$ |
3,510 |
|
|
$ |
3 |
|
|
$ |
723,993 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
8,605 |
|
|
(680,057 |
) |
|
(3,751 |
) |
|
432 |
|
|
(674,771 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
(95,459 |
) |
|
— |
|
|
435 |
|
|
(435 |
) |
|
(95,459 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash equivalents |
(22,817 |
) |
|
(23,614 |
) |
|
194 |
|
|
— |
|
|
(46,237 |
) |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
25,585 |
|
|
26,711 |
|
|
1 |
|
|
— |
|
|
52,297 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
2,768 |
|
|
$ |
3,097 |
|
|
$ |
195 |
|
|
$ |
— |
|
|
$ |
6,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
560,203 |
|
|
$ |
226,067 |
|
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
786,271 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(445,869 |
) |
|
(231,005 |
) |
|
(2,318 |
) |
|
2,318 |
|
|
(676,874 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
(156,657 |
) |
|
— |
|
|
2,319 |
|
|
(2,319 |
) |
|
(156,657 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash equivalents |
(42,323 |
) |
|
(4,938 |
) |
|
1 |
|
|
— |
|
|
(47,260 |
) |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
67,908 |
|
|
31,649 |
|
|
— |
|
|
— |
|
|
99,557 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
25,585 |
|
|
$ |
26,711 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
52,297 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
392,680 |
|
|
$ |
287,209 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
679,889 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(2,216,615 |
) |
|
(1,674,690 |
) |
|
(2,280 |
) |
|
1,419,417 |
|
|
(2,474,168 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in)financing activities |
432,961 |
|
|
1,417,137 |
|
|
2,280 |
|
|
(1,419,417 |
) |
|
432,961 |
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash equivalents |
(1,390,974 |
) |
|
29,656 |
|
|
— |
|
|
— |
|
|
(1,361,318 |
) |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
1,458,882 |
|
|
1,993 |
|
|
— |
|
|
— |
|
|
1,460,875 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
67,908 |
|
|
$ |
31,649 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
99,557 |
|
|