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SEC Filings

10-K
KEY ENERGY SERVICES INC filed this Form 10-K on 02/28/2018
Entire Document
 

Key Energy Services, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
 
December 31,
 
2017
 
2016
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
73,065

 
$
90,505

Restricted cash
4,000

 
24,707

Accounts receivable, net of allowance for doubtful accounts of $875 and $168
69,319

 
71,327

Inventories
20,942

 
22,269

Other current assets
19,477

 
25,762

Total current assets
186,803

 
234,570

Property and equipment, gross
413,127

 
408,716

Accumulated depreciation
(85,813
)
 
(3,565
)
Property and equipment, net
327,314

 
405,151

Intangible assets, net
462

 
520

Other assets
14,542

 
17,740

TOTAL ASSETS
$
529,121

 
$
657,981

LIABILITIES AND EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
13,697

 
$
10,357

Other current liabilities
87,579

 
103,938

Current portion of long-term debt
2,500

 
2,500

Total current liabilities
103,776

 
116,795

Long-term debt
243,103

 
245,477

Workers’ compensation, vehicular and health insurance liabilities
25,393

 
23,313

Other non-current liabilities
28,166

 
29,779

Commitments and contingencies

 

Equity:
 
 
 
Preferred stock, $0.01 par value; 10,000,000 authorized and one share issued and outstanding

 

Common stock, $0.01 par value; 100,000,000 shares authorized, 20,217,641 and 20,096,462 outstanding
202

 
201

Additional paid-in capital
259,314

 
252,421

Accumulated other comprehensive income

 
239

Retained earnings deficit
(130,833
)
 
(10,244
)
Total equity
128,683

 
242,617

TOTAL LIABILITIES AND EQUITY
$
529,121

 
$
657,981

See the accompanying notes which are an integral part of these consolidated financial statements

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