Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

v2.4.1.9
CONSOLIDATED BALANCE SHEET (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 108,456us-gaap_CashAndCashEquivalentsAtCarryingValue $ 148,689us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts and Notes Receivable, net of allowance for bad debts of $11,188 in 2014 and $12,853 in 2013 270,952us-gaap_AccountsNotesAndLoansReceivableNetCurrent 257,889us-gaap_AccountsNotesAndLoansReceivableNetCurrent
Rig materials and supplies 47,943us-gaap_InventoryNet 41,781us-gaap_InventoryNet
Deferred costs 5,673us-gaap_DeferredCostsCurrent 13,682us-gaap_DeferredCostsCurrent
Deferred income taxes 7,476us-gaap_DeferredTaxAssetsNetCurrent 9,940us-gaap_DeferredTaxAssetsNetCurrent
Other tax assets 10,723pkd_OtherTaxAssets 24,079pkd_OtherTaxAssets
Other current assets 18,556us-gaap_OtherAssetsCurrent 23,223us-gaap_OtherAssetsCurrent
Total current assets 469,779us-gaap_AssetsCurrent 519,283us-gaap_AssetsCurrent
Other assets:    
Property, plant and equipment, net of accumulated depreciation of $1,201,058 in 2014 and $1,136,024 in 2013 (Note 4) 895,940us-gaap_PropertyPlantAndEquipmentNet 871,356us-gaap_PropertyPlantAndEquipmentNet
Rig materials and supplies 6,937pkd_MaterialsAndSuppliesNonCurrent 10,221pkd_MaterialsAndSuppliesNonCurrent
Debt issuance costs 12,526us-gaap_UnamortizedDebtIssuanceExpense 14,208us-gaap_UnamortizedDebtIssuanceExpense
Deferred income taxes 122,689us-gaap_DeferredTaxAssetsNetNoncurrent 102,420us-gaap_DeferredTaxAssetsNetNoncurrent
Other assets 12,788pkd_OtherLongTermAssets 17,268pkd_OtherLongTermAssets
Total assets 1,520,659us-gaap_Assets 1,534,756us-gaap_Assets
Current liabilities:    
Current portion of long-term debt 10,000us-gaap_LongTermDebtCurrent 25,000us-gaap_LongTermDebtCurrent
Accounts payable 78,776us-gaap_AccountsPayableCurrent 90,033us-gaap_AccountsPayableCurrent
Accrued liabilities 75,703us-gaap_AccruedLiabilitiesCurrent 84,853us-gaap_AccruedLiabilitiesCurrent
Accrued income taxes 14,186us-gaap_AccruedIncomeTaxesCurrent 7,266us-gaap_AccruedIncomeTaxesCurrent
Total current liabilities 178,665us-gaap_LiabilitiesCurrent 207,152us-gaap_LiabilitiesCurrent
Long-term debt 605,000us-gaap_LongTermDebtNoncurrent 628,781us-gaap_LongTermDebtNoncurrent
Other long-term liabilities 18,665us-gaap_OtherLiabilitiesNoncurrent 26,914us-gaap_OtherLiabilitiesNoncurrent
Long-term deferred tax liability 52,115us-gaap_DeferredTaxLiabilitiesNoncurrent 38,767us-gaap_DeferredTaxLiabilitiesNoncurrent
Commitments and contingencies (Note 15)      
Stockholders’ equity:    
Common Stock, $0.16 2/3 par value, authorized 280,000,000 shares, issued and outstanding, 122,045,877 shares (120,491,164 shares in 2013) 20,325us-gaap_CommonStockValue 20,075us-gaap_CommonStockValue
Capital in excess of par value 666,769us-gaap_AdditionalPaidInCapitalCommonStock 657,349us-gaap_AdditionalPaidInCapitalCommonStock
Accumulated deficit (24,165)us-gaap_RetainedEarningsAccumulatedDeficit (47,616)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated Other Comprehensive Income (498)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 1,888us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total controlling interest stockholders’ equity 662,431us-gaap_StockholdersEquity 631,696us-gaap_StockholdersEquity
Noncontrolling interest 3,783us-gaap_MinorityInterest 1,446us-gaap_MinorityInterest
Total equity 666,214us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 633,142us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and stockholders’ equity $ 1,520,659us-gaap_LiabilitiesAndStockholdersEquity $ 1,534,756us-gaap_LiabilitiesAndStockholdersEquity