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SEC Filings

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

Financial Summary
The following tables set forth our unaudited segment information as of and for the three and nine months ended September 30, 2017 and 2016 (in thousands):
Successor company as of and for the three months ended September 30, 2017
 
U.S. Rig Services
 
Fluid Management Services
 
Coiled Tubing Services
 
Fishing and Rental Services
 
International
 
Functional
Support(2)
 
Reconciling
Eliminations
 
Total
Revenues from external customers
$
61,933

 
$
20,713

 
$
12,499

 
$
14,177

 
$
1,331

 
$

 
$

 
$
110,653

Intersegment revenues
135

 
249

 
27

 
846

 

 

 
(1,257
)
 

Depreciation and amortization
8,009

 
5,350

 
1,259

 
5,855

 
234

 
407

 

 
21,114

Other operating expenses
54,426

 
22,625

 
9,386

 
10,688

 
2,225

 
24,933

 

 
124,283

Operating income (loss)
(502
)
 
(7,262
)
 
1,854

 
(2,366
)
 
(1,128
)
 
(25,340
)
 

 
(34,744
)
Reorganization items, net

 

 

 

 

 
60

 

 
60

Interest expense, net of amounts capitalized

 

 

 

 

 
8,090

 

 
8,090

Income (loss) before income taxes
(495
)
 
(7,249
)
 
1,854

 
(2,355
)
 
3,212

 
(33,283
)
 

 
(38,316
)
Long-lived assets(1)
166,993

 
78,718

 
19,856

 
68,200

 
7

 
56,462

 
(32,445
)
 
357,791

Total assets
287,305

 
41

 
38,450

 
363,879

 
10,117

 
(77,212
)
 
(71,475
)
 
551,105

Capital expenditures
1,288

 
735

 
37

 
124

 
119

 
71

 

 
2,374


Predecessor company as of and for the three months ended September 30, 2016
 
U.S. Rig Services
 
Fluid Management Services
 
Coiled Tubing Services
 
Fishing and Rental Services
 
International
 
Functional
Support(2)
 
Reconciling
Eliminations
 
Total
Revenues from external customers
$
59,137

 
$
18,969

 
$
7,146

 
$
14,078

 
$
3,076

 
$

 
$

 
$
102,406

Intersegment revenues
293

 
203

 

 
1,194

 
34

 

 
(1,724
)
 

Depreciation and amortization
14,602

 
5,867

 
2,683

 
6,623

 
1,719

 
1,973

 

 
33,467

Impairment expense

 

 

 

 
40,000

 

 

 
40,000

Other operating expenses
53,539

 
26,327

 
8,835

 
14,406

 
5,746

 
29,674

 

 
138,527

Operating loss
(9,004
)
 
(13,225
)
 
(4,372
)
 
(6,951
)
 
(44,389
)
 
(31,647
)
 

 
(109,588
)
Interest expense, net of amounts capitalized

 

 

 

 

 
21,120

 

 
21,120

Loss before income taxes
(8,986
)
 
(13,216
)
 
(4,372
)
 
(6,938
)
 
(44,711
)
 
(52,639
)
 

 
(130,862
)
Long-lived assets(1)
450,384

 
111,697

 
45,705

 
106,055

 
10,334

 
160,835

 
(115,326
)
 
769,684

Total assets
1,304,552

 
241,422

 
114,259

 
467,392

 
33,145

 
(840,066
)
 
(325,083
)
 
995,621

Capital expenditures
521

 
865

 

 
954

 

 
13

 

 
2,353


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