Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 134,294 $ 108,456
Accounts and Notes Receivable, net of allowance for bad debts of $8,694 in 2015 and $11,188 in 2014 175,105 270,952
Rig materials and supplies 34,937 47,943
Deferred costs 1,367 5,673
Other tax assets 5,192 10,723
Other current assets 15,846 18,556
Total current assets 366,741 462,303
Other assets:    
Property, plant and equipment, net of accumulated depreciation of $1,302,380 in 2015 and $1,201,058 in 2014 (Note 5) 805,841 895,940
Goodwill (Note 3) 6,708 0
Intangible Assets, Net (Excluding Goodwill) 13,377 4,286
Rig materials and supplies 18,104 6,937
Debt issuance costs 12,626 12,526
Deferred income taxes 139,282 130,165
Other assets 14,225 8,502
Total assets 1,376,904 1,520,659
Current liabilities:    
Current portion of long-term debt 0 10,000
Accounts payable 58,080 78,776
Accrued liabilities 71,623 75,703
Accrued income taxes 6,418 14,186
Total current liabilities 136,121 178,665
Long-term debt 585,000 605,000
Other long-term liabilities 18,617 18,665
Long-term deferred tax liability $ 68,654 $ 52,115
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Common Stock, $0.16 2/3 par value, authorized 280,000,000 shares, issued and outstanding, 123,206,269 shares (122,045,877 shares in 2014) $ 20,518 $ 20,325
Capital in excess of par value 669,120 666,769
Accumulated deficit (119,238) (24,165)
Accumulated Other Comprehensive Income (1,888) (498)
Total controlling interest stockholders’ equity 568,512 662,431
Noncontrolling interest 0 3,783
Total equity 568,512 666,214
Total liabilities and stockholders’ equity $ 1,376,904 $ 1,520,659