Independence contract drilling, inc. (ICD)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities
Net loss

-60,788

-19,993

-24,298

-22,178

-7,880

-28,168

-1,997

-4,948

Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization

45,367

30,891

25,844

23,808

21,151

16,181

10,186

5,904

Goodwill impairment and other charges

-

-

-

-

-

30,627

0

-

Goodwill impairment and other charges

-

-

-

-

-

-

-

0

Asset impairment (insurance recoveries), net

35,748

25

2,568

3,822

2,708

1,711

0

0

Stock-based compensation

1,871

4,829

3,565

4,249

3,542

3,143

1,751

1,883

Stock-based compensation - executive retirement

-

-

-

-67

0

0

-

-

Gain on warrant derivative

-

-

-

-

-

3,189

1,035

3,655

(Gain) loss on disposition of assets, net

4,943

-740

1,677

1,942

2,940

19

-55

0

Amortization of deferred rent

0

105

0

0

-

-

-

-

Deferred income taxes

-122

91

287

203

193

-3,742

-2,043

-

Deferred taxes

-

-

-

-

-

-

-

-5,401

Amortization of deferred financing costs

814

492

434

532

629

668

251

0

Write-off of deferred financing costs

0

856

0

504

394

0

0

-

Bad debt expense (recovery)

459

22

0

0

132

123

93

256

Changes in operating assets and liabilities
Accounts receivable

-5,695

1,022

6,588

-6,772

-755

10,161

3,802

5,638

Inventories

349

-250

301

-55

263

1,356

240

889

Vendor advances

-

-

-

-

-

-

-3,977

546

Prepaid expenses and other assets

-1,473

4,681

-133

-212

853

1,313

856

629

Accounts payable and accrued liabilities

-7,190

5,010

1,612

-2,881

4,339

-985

6,978

3,402

Net cash provided by operating activities

27,921

16,135

4,933

16,973

-

-

-

-

Income taxes payable

-

-

-

-

-408

251

157

0

Related party receivable

-

-

-

-

-

-

-586

-832

Net cash provided by operating activities

-

-

-

-

27,379

3,809

5,997

-8,337

Cash flows from investing activities
Cash acquired in Sidewinder Merger

0

10,743

0

0

-

-

-

17,082

Purchases of property, plant and equipment

38,320

37,550

31,347

21,106

75,532

115,388

59,689

66,864

Proceeds from the sale of assets

8,951

1,303

1,253

860

414

664

416

39

Proceeds from insurance claims

1,000

257

0

188

2,899

2,038

0

0

Net cash used in investing activities

-28,369

-25,247

-30,094

-20,058

-

-

-

-

Net cash used in investing activities

-

-

-

-

-72,219

-112,686

-59,273

-49,743

Cash flows from financing activities
Borrowings under Term Loan Facility

0

130,000

0

0

-

-

-

-

Borrowings under Revolving Credit Facility

-

-

-

-

140,610

137,681

36,986

0

Repayments under Revolving Credit Facility

-

-

-

-

100,421

134,942

17,206

0

Repayment of Sidewinder debt

0

58,512

0

0

-

-

-

-

Common stock issuance costs

177

-

-

-

-

-

-

-

Repayment of other debt

-

-

-

-

-

-

-

2,125

Public offering proceeds, net of offering costs

-

-

-

-

-

116,458

0

0

Common stock issuance costs

-

0

0

42,920

0

0

-

-

Purchase of treasury stock

809

1,180

174

409

315

225

-

-

RSUs withheld for taxes

34

710

863

0

0

-

-

-

Financing costs paid

-

-

-

-

447

2,068

1,181

0

Payments for finance lease obligations

2,980

636

599

526

0

0

-

-

Net cash provided by financing activities

-6,593

18,826

20,623

4,812

-

-

-

-

Net increase in cash and cash equivalents

-7,041

9,714

-4,538

-

-

-

-

-

Purchase of treasury stock

-

-

-

-

-

-

0

747

Proceeds from 144A offering, net

-

-

-

-

-

-

-

98,358

Net cash provided by financing activities

-

-

-

-

39,427

116,904

18,599

95,486

Net increase (decrease) in cash and cash equivalents

-

-

-

1,727

-5,413

8,027

-34,677

37,406

Supplemental disclosure of cash flow information
Cash paid during the period for interest

-

-

-

-

-

-

-

10

Cash (received) paid during the period for taxes

-

-

-

-

-

-

-

0

Revolving Credit Facility
Borrowings under Revolving Credit Facility

4,511

55,732

44,451

0

-

-

-

-

Repayments under Revolving Credit Facility

7,077

101,707

21,662

0

-

-

-

-

Financing costs paid

22

790

530

0

-

-

-

-

CIT Credit Facility
Borrowings under Credit Facility

-

-

-

49,048

-

-

-

-

Repayments under Credit Facility

-

-

-

86,004

-

-

-

-

Financing costs paid under Credit Facility

-

-

-

217

-

-

-

-

Term Loan Facility
Financing costs paid

5

3,371

0

0

-

-

-

-