HELMERICH & PAYNE, INC. HP Cash Flow

Helmerich & payne, inc. (HP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Dec'08
Cash flows from operating activities:
Net income (loss)
-420,540	30,605	41,177	-154,683	60,891	18,959	2,453	-8,008	-11,879	500,106	-22,532	-21,799	-48,818	-35,063	-72,835	-21,200	21,205	16,002	-27,596	90,872	153,543	203,608	166,532	192,279	174,570	173,182	159,797	266,159	151,080	159,603	157,115	149,925	129,719	144,286	121,420	109,826	98,790	104,150	83,045	-36,715	46,747	63,235	51,488	53,044	103,738	145,275
Adjustment for loss from discontinued operations
-72	-124	-713	-62	-10,966	10,595	278	166	-10,246	-536	-821	1,326	-345	-509	34	-7	-3,969	104	-6	-27	1	-15	-	-	-	-	0	15,181	13	-8	7,509	-18	-44	-11	-94	-2	-171	-215	-246	-101,598	-27,358	-567	-	-	-	-
Income (loss) from continuing operations
-420,468	30,729	41,890	-154,621	71,857	8,364	2,175	-8,174	-1,633	500,642	-21,711	-23,125	-48,473	-34,554	-72,869	-21,193	25,174	15,898	-27,590	90,899	153,542	203,623	166,549	192,290	174,589	173,182	159,797	250,978	151,067	159,611	149,606	149,943	129,763	144,297	121,514	109,828	98,961	104,365	83,291	64,883	74,105	63,802	-	-	-	-
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
132,006	130,131	134,886	143,297	143,160	141,460	150,281	144,579	145,675	143,267	153,876	145,043	152,777	133,847	176,251	138,690	141,517	142,129	174,594	144,965	150,248	138,232	150,806	128,978	123,963	120,237	118,801	117,790	112,433	106,599	115,145	95,182	90,934	86,288	87,018	79,109	76,161	73,180	73,240	65,208	63,493	60,717	61,453	54,197	57,113	54,772
Amortization of debt discount and debt issuance costs
456	444	556	424	423	329	269	267	265	266	266	264	262	263	289	321	303	255	264	298	129	58	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for (recovery of) bad debt
3,848	-2,069	1,777	619	-948	873	1,595	169	376	53	-1,842	38	1,470	2,350	-	-	-	6	-	-	-	-	-	-	-	-	94	-11	3,790	2	203	0	0	2	103	0	2	1	202	1	1	2	-1,225	565	7	8
Equity in income of affiliate before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6,808	9,500
Stock-based compensation
10,751	10,201	8,825	8,878	9,431	7,158	8,215	7,926	8,459	7,087	6,936	6,768	6,578	5,901	4,722	5,674	6,066	7,921	6,075	6,041	6,097	6,982	5,614	8,285	5,794	7,010	5,800	5,745	5,698	6,028	4,778	4,542	4,836	3,922	2,987	2,970	2,957	3,187	2,981	2,949	2,917	7,008	2,056	2,054	2,038	2,200
Loss on investment securities
-12,413	2,821	-4,260	-13,271	5,887	-42,844	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	153,369	0	8,752	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
10,310	4,279	-	-	11,545	5,545	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of subsidiary
0	14,963	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain from sale of assets
-	-	-	-	-	-	7,567	4,313	5,255	5,565	3,007	1,862	14,889	842	2,076	547	2,684	4,589	3,015	1,791	2,855	4,173	7,193	2,128	4,098	5,664	4,385	4,006	5,313	5,219	4,858	1,862	7,820	4,683	3,641	3,488	4,105	2,669	747	2,249	985	1,011	696	1,737	2,055	914
Gain from involuntary conversion of long-lived assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	264	0	277
Deferred income tax (benefit) expense
-98,912	-7,966	-19,051	-34,330	7,720	1,107	11,733	7,882	-2,629	-503,744	3,687	6,240	-16,965	-17,073	-17,798	73,009	-15,292	20,169	-14,555	12,308	8,915	124,763	-2,533	14,914	11,808	1,943	13,735	-4,305	8,489	11,638	52,202	44,586	42,558	57,585	32,021	60,011	53,539	42,080	68,977	13,041	15,438	8,235	4,156	38,760	87,096	28,141
Other
3,640	139	10,604	-8,565	3,377	-168	-2,975	1,966	-1,902	-3,799	-481	-30	-22	-10	104	-150	128	-233	-	-	-	-	-	-	-	-	-1,334	-384	-771	-1	-	-	-	-	-	-4	0	1	0	-222	107	36	-	-	-	1
Change in assets and liabilities increasing (decreasing) cash:
Accounts receivable
34,448	3,269	-7,321	-49,360	6,058	-19,700	-2,306	25,717	8,013	53,778	34,172	93,220	15,770	-46,048	24,906	17,524	-43,139	-72,083	-29,187	-157,956	-116,647	44,766	-13,715	81,679	-6,326	8,820	-891	19,156	26,855	-40,314	16,345	93,144	15,814	34,851	16,429	11,034	20,783	-45,259	122,861	54,390	20,748	25,917	-12,059	-142,985	440	-2,259
Inventories of materials and supplies
2,345	-965	-348	-4,741	1,410	1,858	7,522	8,932	4,111	1,862	-1,199	4,533	5,552	1,721	-2,288	-764	2,407	-1,299	1,026	3,617	13,683	4,726	-761	6,421	2,494	8,469	2,280	3,861	4,175	1,973	6,158	9,009	2,503	4,500	4,801	3,763	2,156	285	-103	2,768	-452	1,645	-901	3,305	-319	8,896
Prepaid expenses and other
-3,737	19,699	-9,380	13,516	-3,896	-64	-5,796	16,615	-9,664	2,672	-2,632	-8,990	-10,542	-7,288	-4,077	20,290	-17,410	3,657	-25,905	17,731	5,583	7,048	17,942	16,549	-1,626	-20,003	10,243	15,482	-1,587	-29,459	-13,214	18,568	-1,721	24,440	-19,663	11,077	873	-4,910	1,061	-4,297	3,243	12,793	-2,233	17,391	-11,391	5,675
Other noncurrent assets
-3,740	-6,367	4,531	1,297	4,329	273	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
23,344	-1,580	-9,423	2,915	-10,651	8,012	-10,974	19,632	-4,122	-8,997	-1,986	10,039	15,476	15,883	2,736	-69	-3,020	-10,554	2,151	-44,393	-1,525	4,784	15,136	-5,903	364	-25,701	10,754	7,170	-15,684	-54,316	68,805	-1,646	-30,636	18,383	31,741	2,908	7,296	-24,583	23,545	-1,130	12,100	-17,755	-10,048	-29,956	-5,603	20,611
Accrued liabilities
-60,053	-8,093	32,777	8,566	2,463	-2,919	3,130	27,750	-3,906	16,824	17,336	23,423	-7,146	-69,733	34,930	-36,427	-23,111	74,170	40,219	-17,355	-10,523	-37,097	3,745	50,650	-57,722	38,705	-59,031	91,116	-72,077	64,251	7,963	6,315	-14,874	791	5,236	30,199	120	-15,072	-5,994	22,426	-41,630	39,229	10,983	-17,863	-12,282	21,834
Deferred income tax liability
-316	-6	-360	149	-466	306	-4,779	-3,469	7,967	-1,987	-402	-395	-125	-2,550	-1,030	-93	907	-3,487	-371	-297	-298	278	-178	-182	-208	1,317	382	80	557	654	-146	531	-92	-113	-42	34	-474	231	-1,926	-2,302	2,841	-1,066	-11	1,303	3,058	3,884
Other noncurrent liabilities
-2,780	-2,184	8,303	-726	4,344	-9,670	-4,291	6,776	4,373	-17,645	-4,870	10,111	-2,489	-15,827	1,910	-4,802	-3,181	-10,758	-2,137	5,971	21,518	12,970	918	-977	-3,832	-6,251	248	-5,764	-6,796	-5,059	2,463	-1,766	3,969	-6,258	5,752	-10,022	2,132	8,267	7,450	-1,972	-1,513	4,437	2,015	-2,734	-1,662	856
Net cash provided by operating activities from continuing operations
120,889	111,781	196,386	250,364	199,555	209,508	186,443	163,831	128,085	79,662	130,979	90,012	75,968	74,390	139,144	122,921	184,327	308,092	277,024	335,015	423,258	393,324	331,204	257,895	235,172	304,858	235,542	267,149	152,378	341,930	387,345	174,174	202,228	236,649	281,203	244,698	213,263	238,870	132,106	107,930	103,335	123,279	-	-	-	-
Net cash used in operating activities from discontinued operations
-28	0	-6	-11	-19	-26	-19	-54	-39	-57	-35	-35	-61	-19	-23	-28	-6	104	-6	-27	1	-15	-	-	-	-	0	181	13	-8	9	-18	-44	-11	-94	-2	-171	-215	-2,855	-402	-142	-963	-	-	-	-
Net cash provided by operating activities
120,861	111,781	196,380	250,353	199,536	209,482	186,424	163,777	128,046	79,605	130,944	89,977	75,907	74,371	139,121	122,893	184,321	308,196	277,018	334,988	423,259	393,309	331,187	257,884	235,153	304,858	235,542	267,330	152,391	341,922	387,354	174,156	202,184	236,638	281,109	244,696	213,092	238,655	129,251	107,528	103,193	122,316	161,484	243,967	235,909	254,579
Cash flows from investing activities:
Capital expenditures
48,291	46,021	54,832	73,590	133,886	196,094	143,926	131,456	99,504	91,698	97,292	124,972	93,176	82,127	37,620	39,068	66,011	114,470	159,843	205,573	396,048	369,981	329,508	265,275	216,110	140,643	190,516	180,077	219,029	219,444	323,437	281,542	235,758	256,943	200,488	207,525	170,027	116,224	109,372	77,882	77,527	64,791	142,333	208,622	275,503	250,381
Insurance proceeds from involuntary conversion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	264	0	277
Purchase of short-term investments
7,388	28,948	25,800	29,446	11,082	31,324	18,890	15,375	20,601	16,183	20,908	11,059	22,874	15,025	20,318	15,089	14,951	6,918	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	16	-	-	-	-
Payment for acquisition of business, net of cash acquired
0	0	13,382	0	0	2,781	0	0	54	47,832	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,000	-	-	-	-	-	-	-	-
Proceeds from sale of short-term investments
18,894	25,000	18,750	10,000	26,155	31,860	16,306	20,450	13,900	18,120	16,299	19,150	20,100	13,900	25,700	11,005	17,076	4,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of subsidiary
0	15,056	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from asset sales
12,921	11,878	14,590	11,668	12,950	11,609	16,332	10,223	9,077	8,749	5,491	4,462	12,250	1,209	9,041	3,089	3,657	6,058	4,886	2,602	7,995	7,160	8,691	8,164	5,408	7,913	6,297	5,578	8,737	7,414	8,056	6,295	15,388	10,155	5,057	4,716	13,994	3,028	1,570	2,680	1,131	2,486	1,411	2,325	2,922	1,411
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	214,119	0	18,102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	16
Net cash used in investing activities from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-132,730	-	-	-	-	-	-	-	-	-	-	-	-	-107,802	-75,202	-63,880	-62,321	-	-	-	-
Net cash provided by investing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	31	-123	37	-	-	-	-
Net cash used in investing activities
-23,915	-23,035	-48,675	-81,368	-105,863	-186,730	-130,178	-116,158	-97,182	-128,844	-96,410	-182,835	-83,700	-82,043	-23,197	-40,063	-60,229	-110,730	-200,564	-202,971	-388,053	-362,821	-	-	-	-	-184,219	54,620	-210,292	-193,928	-	-	-	-246,788	-195,431	-198,877	-156,033	-117,196	-107,802	-75,171	-64,003	-62,284	-140,349	-209,890	-285,081	-248,709
Cash flows from financing activities:
Increase in bank overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-2,038	-	-	-	2,330
Dividends paid
78,288	77,602	78,363	78,478	78,458	78,122	78,062	76,935	76,930	76,503	76,454	76,444	76,441	76,176	76,112	74,740	74,740	74,560	74,540	74,480	74,525	74,822	74,844	67,997	67,685	53,860	53,534	16,050	16,037	7,432	7,429	7,550	7,548	7,522	7,519	6,438	6,408	6,376	6,363	5,304	5,300	5,287	5,282	5,281	5,275	5,273
Decrease in notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1,733
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	60,000	125,000	275,000	435,000	655,000	1,155,000	1,110,000	920,000
Payments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,000	90,000	175,000	320,000	475,000	665,000	1,155,000	1,065,000	905,000
Debt issuance costs paid
0	0	0	0	0	3,912	-	-	-	-	-	-	-	-	1,079	0	0	32	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Exercise of stock options, net of tax withholding
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	682	-140	-59	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock option exercises
0	4,100	152	644	303	1,954	1,195	3,515	753	892	401	512	119	10,253	-	-	-	-	3,259	470	983	-2,062	880	2,669	11,500	8,201	7,199	1,212	4,433	473	299	479	1,522	373	1,707	2,619	8,127	2,988	189	-700	932	-623	562	281	129	300
Payments for employee taxes on net settlement of equity awards
0	3,455	-2	152	1	6,267	1,136	187	320	5,471	325	169	32	6,073	1,734	295	0	3,617	36	856	0	4,248	0	0	0	3,049	0	0	0	1,677	0	0	0	1,514	-	-	-	-	-	-	-	-	-	-	-	-
Payment of contingent consideration from acquisition of business
-	-	-	-	-	-	0	6,125	3,000	1,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	59,654	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
0	-445	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	542	571	-352	803	208	38	2,723	892	3,637	11,961	10,126	2,400	375	1,352	5,693	47	92	738	2,426	1,159	536	8,083	2,733	28	1,419	248	1,649	28	1,170	2	17
Net cash used in financing activities
-111,042	-77,402	-133,840	-77,986	-78,156	-86,347	-78,003	-79,732	-79,497	-82,582	-76,378	-76,101	-76,354	-71,996	-117,395	-73,811	-74,309	-78,620	-121,610	-77,262	431,847	-138,063	-188,072	-61,691	-44,224	-38,582	-83,935	-14,463	-10,252	-2,943	-132,244	-74,428	-5,288	-6,237	-9,497	1,561	9,802	-10,655	-36,146	-54,585	-49,120	-46,299	-46,646	5,162	37,526	10,641
Net decrease in cash and cash equivalents and restricted cash
-14,096	11,344	13,865	90,999	15,517	-63,595	-21,757	-32,113	-48,633	-131,821	-41,844	-168,959	-84,147	-79,668	-1,471	9,019	49,783	118,846	-45,156	54,755	467,053	-107,575	-177,702	-35,051	3,565	133,546	-32,612	307,487	-68,153	145,051	-52,771	-175,519	-23,474	-16,387	76,181	47,380	66,861	110,804	-14,697	-22,228	-9,930	13,733	-25,511	39,239	-11,646	16,511
Supplemental disclosure of cash flow information:
Cash paid during the period:
Interest paid
11,394	46	13,945	-440	7,094	6,140	8,614	92	11,721	75	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax paid, net
42,575	934	5,005	2,086	3,417	5,710	-43,033	1,355	605	2,673	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
4,749	4,877	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in accounts payable and accrued liabilities related to purchases of property, plant and equipment
1,528	-1,339	1,492	3,545	4,026	8,708	-3,315	833	4,685	-4,448	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-