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SEC Filings

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


Successor company as of and for the nine 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
$
184,026

 
$
57,475

 
$
27,005

 
$
45,808

 
$
5,571

 
$

 
$

 
$
319,885

Intersegment revenues
235

 
887

 
49

 
2,472

 

 

 
(3,643
)
 

Depreciation and amortization
23,228

 
16,627

 
3,956

 
17,655

 
791

 
1,068

 

 
63,325

Impairment expense

 

 

 

 
187

 

 

 
187

Other operating expenses
163,564

 
58,274

 
23,155

 
16,902

 
9,373

 
65,211

 

 
336,479

Operating income (loss)
(2,766
)
 
(17,426
)
 
(106
)
 
11,251

 
(4,780
)
 
(66,279
)
 

 
(80,106
)
Reorganization items, net

 

 

 

 

 
1,501

 

 
1,501

Interest expense, net of amounts capitalized

 

 

 

 

 
23,672

 

 
23,672

Income (loss) before income taxes
(2,605
)
 
(17,485
)
 
(94
)
 
11,485

 
(74
)
 
(90,727
)
 

 
(99,500
)
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
5,956

 
1,828

 
216

 
654

 
475

 
481

 

 
9,610

Predecessor company as of and for the nine 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
$
169,627

 
$
61,230

 
$
24,294

 
$
43,773

 
$
9,582

 
$

 
$

 
$
308,506

Intersegment revenues
737

 
733

 
43

 
3,448

 
284

 

 
(5,245
)
 

Depreciation and amortization
44,278

 
17,725

 
8,574

 
21,385

 
6,067

 
7,046

 

 
105,075

Impairment expense

 

 

 

 
40,000

 

 

 
40,000

Other operating expenses
154,393

 
70,557

 
32,298

 
42,127

 
17,865

 
88,452

 

 
405,692

Operating loss
(29,044
)
 
(27,052
)
 
(16,578
)
 
(19,739
)
 
(54,350
)
 
(95,498
)
 

 
(242,261
)
Interest expense, net of amounts capitalized

 

 

 

 

 
64,061

 

 
64,061

Loss before income taxes
(29,011
)
 
(27,003
)
 
(16,455
)
 
(19,719
)
 
(54,986
)
 
(158,483
)
 

 
(305,657
)
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
1,025

 
2,885

 
101

 
2,470

 
711

 
228

 

 
7,420

(1)
Long-lived assets include fixed assets, intangibles and other non-current assets.
(2)
Functional Support is geographically located in the United States.

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