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SEC Filings

10-Q
KEY ENERGY SERVICES INC filed this Form 10-Q on 11/09/2017
Entire Document
 

NOTE 3. ASSETS HELD FOR SALE
In April 2015, we announced our decision to exit markets in which we participate outside of North America. Our strategy was to sell or relocate the assets of the businesses operating in these markets. During the fourth quarter of 2015, the assets and related liabilities of our Russian business unit, which were included in our International reporting segment, met the criteria for assets held for sale. The sale of our Russian business unit was completed in the third quarter of 2017.
NOTE 4. EQUITY
A reconciliation of the total carrying amount of our equity accounts for the nine months ended September 30, 2017 is as follows (in thousands):
 
COMMON STOCKHOLDERS
 
 
 
Common Stock
 
Additional Paid-in Capital
 
Accumulated Other Comprehensive Income
 
Retained Deficit
 
Total
 
Number of Shares
 
Amount at Par
 
 
 
Balance at December 31, 2016 (Successor)
20,096

 
$
201

 
$
252,421

 
$
239

 
$
(10,244
)
 
$
242,617

Foreign currency translation

 

 

 
(239
)
 

 
(239
)
Common stock purchases

 

 
(85
)
 

 

 
(85
)
Share-based compensation
13

 

 
11,581

 

 

 
11,581

Net loss

 

 

 

 
(98,262
)
 
(98,262
)
Balance at September 30, 2017 (Successor)
20,109

 
$
201

 
$
263,917

 
$

 
$
(108,506
)
 
$
155,612

NOTE 5. OTHER BALANCE SHEET INFORMATION
The table below presents comparative detailed information about other current assets at September 30, 2017 and December 31, 2016 (in thousands):
 
 
 
 
 
September 30, 2017
 
December 31, 2016
Other current assets:
 
 
 
Prepaid current assets
$
5,069

 
$
10,291

Reinsurance receivable
9,451

 
7,922

Current assets held for sale

 
3,667

Other
2,898

 
3,882

Total
$
17,418

 
$
25,762

The table below presents comparative detailed information about other non-current assets at September 30, 2017 and December 31, 2016 (in thousands):
 
 
 
 
 
September 30, 2017
 
December 31, 2016
Other non-current assets:
 
 
 
 Reinsurance receivable
$
8,110

 
$
8,393

 Deposits
1,331

 
8,292

 Equity method investments

 
560

 Non-current assets held for sale

 
360

 Other
5,166

 
135

Total
$
14,607

 
$
17,740


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