SEC Filings

10-Q
HORNBECK OFFSHORE SERVICES INC /LA filed this Form 10-Q on 05/09/2018
Entire Document
 

PART 1—FINANCIAL INFORMATION
Item 1—Financial Statements
HORNBECK OFFSHORE SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
 
March 31,
2018
 
December 31,
2017
 
(Unaudited)
ASSETS
 
Current assets:
 
 
 
Cash and cash equivalents
$
170,836

 
$
186,849

Accounts receivable, net of allowance for doubtful accounts of $6,277 and $6,054, respectively
41,564

 
44,702

Other current assets
14,707

 
16,890

Total current assets
227,107

 
248,441

Property, plant and equipment, net
2,481,735

 
2,501,013

Deferred charges, net
13,672

 
12,812

Other assets
6,541

 
6,612

Total assets
$
2,729,055

 
$
2,768,878

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
18,360

 
$
16,196

Accrued interest
14,652

 
14,734

Accrued payroll and benefits
11,330

 
9,475

Other accrued liabilities
12,612

 
8,457

Total current liabilities
56,954

 
48,862

Long-term debt, including deferred gain of $18,251 and $18,911, and net of original issue discount of $6,850 and $7,862 and deferred financing costs of $9,295 and $10,134, respectively
1,082,017

 
1,080,826

Deferred tax liabilities, net
188,830

 
197,465

Other liabilities
2,207

 
3,801

Total liabilities
1,330,008

 
1,330,954

Stockholders’ equity:
 
 
 
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding

 

Common stock: $0.01 par value; 100,000 shares authorized; 37,493 and 37,144 shares issued and outstanding, respectively
375

 
371

Additional paid-in-capital
760,352

 
760,278

Retained earnings
629,943

 
668,598

Accumulated other comprehensive income
8,377

 
8,677

Total stockholders’ equity
1,399,047

 
1,437,924

Total liabilities and stockholders’ equity
$
2,729,055

 
$
2,768,878



The accompanying notes are an integral part of these consolidated statements.

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