NABORS INDUSTRIES LTD. NBR Cash Flow

Nabors industries ltd. (NBR)

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
Cash flows from operating activities:
Net income (loss)
-374,362	-284,511	-99,631	-192,835	-103,533	-165,622	-107,643	-195,799	-143,662	-115,167	-146,419	-130,980	-148,067	-334,462	-110,026	-187,549	-397,570	-162,820	-296,154	-36,865	123,545	-890,868	106,435	64,697	50,492	151,629	-104,940	1,255	99,218	28,491	75,656	-72,789	134,090	-101,005	74,256	192,448	82,825	50,481	-39,607	43,621	40,200
Adjustments to net income (loss):
Depreciation and amortization
227,063	225,823	221,563	218,320	210,397	226,668	209,059	218,774	214,008	214,666	217,701	208,708	204,364	216,755	221,377	219,495	216,669	231,399	240,834	220,066	281,019	294,594	287,257	284,109	282,349	278,843	277,261	270,214	273,423	277,364	269,645	261,087	247,661	240,640	234,834	225,915	226,071	219,120	198,924	176,201	172,274
Accretion, depletion and other exploratory expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,602	12,877	2,807	16,265	2,415	8,910	8,922	6,755
Deferred income tax expense (benefit)
24,903	21,329	5,761	-5,145	13,949	35,415	2,243	19,560	14,361	124,069	-31,679	-34,825	-48,469	-38,257	-43,692	-57,432	-67,289	-102,394	-105,790	73,662	-68,623	-235,307	-8,060	2,721	451	-71,742	-10,815	-15,349	-5,371	-50,626	-65,712	-54,206	38,802	-73,945	14,258	26,383	20,925	2,342	65,773	-9,450	-2,701
Amortization of loss on hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	231	233	231	322	173	146	145
Impairments and other charges
265,779	114,535	0	98,787	82	-	-	-	-	-	-	-	-	190,936	19,563	23,511	2,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and deferred financing costs
8,153	7,734	7,329	8,138	7,730	9,902	7,637	7,372	7,302	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs amortization
-	-	-	-	-	-	-	-	-	-	1,784	1,788	1,728	-	1,094	1,123	1,118	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,107	1,078	1,336	1,586	1,671	1,201	1,222	1,337
Pension liability amortization and adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	150	150	150	366	99	99	100
Discount amortization on long-term debt
-	-	-	-	-	-	-	-	-	-	5,342	5,282	4,505	-	486	543	568	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	496	465	8,566	17,515	16,901	17,054	17,264	19,500
Losses (gains) on debt buyback
15,742	13,220	-718	-3,701	2,667	-	-	-	-	0	-61	-7,348	-8,596	-42	680	0	6,027	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-58	0	-9	-4,229	-2,804
Losses (gains) on long-lived assets, net
-1,391	-31,936	2,201	-6,978	-3,633	-21,353	-68,633	-3,498	-2,257	-8,884	-10,056	2,751	-2,875	-71,456	-5,873	-5,172	-2,563	-50,136	-10,477	-1,993	-732	-365,176	27,107	-11,524	-3,517	-	-	-	-	-	-	-	-	11,309	-822	42,542	-1,084	-2,192	6,909	-559	-3,108
Losses (gains) on investments, net
-5,539	-1,143	-3,506	-1,782	7,688	-6,997	-2,229	-4,246	-723	-	-	-	-	-	-	-	-	-	-	-	-	650	-132	5,055	7	845	-505	12,485	78,655	29,152	6,373	2,077	19,323	3,919	-194	-2,321	11,082	4,468	-2,475	926	-3,110
Provision (recovery) of bad debt
10,417	20,247	123	675	-419	3,853	95	737	-3,400	3,775	-1,068	314	62	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairments on equity method holdings
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-39,000	-177,242	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses (gains) on merger and acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,308	-7,808	2,308	52,574	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation
9,158	5,171	5,325	5,740	8,424	6,025	5,639	6,104	8,628	6,839	7,012	7,765	10,280	7,930	7,474	9,222	7,374	8,289	8,922	16,411	13,691	9,049	8,840	8,616	10,685	7,357	7,074	5,971	32,853	4,771	4,757	4,330	4,454	3,995	9,142	4,162	3,945	3,144	17,649	-3,586	-3,461
Foreign currency transaction losses (gains), net
559	-2,195	-8,757	-1,376	-8,548	3,635	-1,590	-3,758	-2,522	124	763	-1,614	-877	247	1,102	-2,805	-4,213	-2,438	-7,991	-1,797	2,345	2,395	-2,372	-4,337	3,293	796	290	-2,995	-4,316	235	-2,769	-2,720	435	-4,982	-128	-1,024	409	-1,085	-1,776	-5,743	-9,276
Noncontrolling interest
-17,465	21,827	-19,296	-10,730	-14,176	-	-	-	-540	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses (gains) on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	71	-255	-83	2	-893	-810	-770
Equity in (earnings) losses from unconsolidated affiliates, net of dividends
-	-	-	-	-	-	-	-	-	1	4	0	2	4	2	-54,769	-167,151	-45,366	-35,100	-9,546	5,737	-3,575	-506	-576	-2,445	-2,063	-2,628	995	2,896	2,795	-99,527	-134,317	-68,668	25,345	33,722	88,346	13,776	-864	4,115	6,718	3,661
Other
-188	-156	-138	-161	-212	-159	-3,671	3,276	-166	-5,232	1,960	1,885	751	-2,502	797	-3,250	428	6,632	-2,444	-827	-3,988	-2,162	6,279	-2,445	-910	8,542	10,897	3,118	-12,827	4,966	6,379	-6,966	-5,620	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable
16,008	-140,419	-112,478	-8,874	-14,914	-15,709	-4,773	52,587	34,381	40,586	38,510	70,080	19,260	1,515	490	-89,871	-166,074	-79,304	-785	-204,518	-244,544	-102,278	181,072	-8,915	57,004	22,993	44,124	-83,955	61,399	-153,564	-80,954	-103,715	137,696	176,373	200,549	-39,039	121,572	109,133	98,229	33,795	8,568
Inventory
1,421	-2,805	8,686	12,129	685	12,503	-5,675	-682	7,835	2,877	10,442	-1,176	5,301	-25,987	-9,438	-3,165	-2,057	-14,369	-1,720	-7,252	-511	30,411	28,364	21,103	-14,480	-19,192	-6,327	-8,393	-5,500	-3,547	-4,264	1,247	-7,883	37,983	37,106	4,587	35,220	7,422	471	9,237	-1,929
Other current assets
-12,292	12,928	16,505	-21,132	-13,458	-10,046	-261	1,137	-22,600	-23,485	-1,170	-2,588	10,725	-7,712	-36,801	-12,042	18,651	111,733	2,440	-135,418	-13,145	-43,913	-106,029	36,522	-4,742	12,515	-8,974	-30,427	33,829	-4,343	20,180	19,715	7,191	22,197	23,674	-16,497	-4,554	-124,188	133,872	-1,374	-14,899
Other long-term assets
-2,046	-51,083	-728	14,798	23,907	1,166	5,890	-12,762	-6,011	6,606	-5,809	-14,275	-15,294	-475	33,611	-20,020	-13,214	291,043	-7,737	-257,510	1,665	39,266	2,077	-9,593	-1,275	-7,863	-8,615	-9,587	-16,233	11,725	33,436	927	-7,620	7,903	-18,227	-13,878	-47,665	-7,017	-12,257	10,685	1,080
Trade accounts payable and accrued liabilities
-76,952	-13,482	-68,751	35,045	-95,669	83,457	-138,194	121,226	-143,050	57,593	-54,350	114,620	-38,659	7,571	-83,907	16,893	-120,757	133,723	-66,125	-358,327	-275,313	99,106	111,383	85,889	-28,471	102,279	-26,945	101,346	-63,130	-3,543	-126,829	24,772	-119,195	187,578	93,890	193,668	44,075	29,858	25,580	58,291	-43,266
Income taxes payable
4,475	-8,316	-3,659	1,011	6,107	-18,222	-1,288	-23,265	836	-4,979	7,072	-5,211	17,929	-24,080	4,891	-28,353	966	39,076	-11,544	-54,139	24,927	-6,209	12,166	-37,034	-26,036	22,094	-25,012	-40,161	11,327	-12,064	43,723	-40,537	7,390	1,465	12,897	-14,459	1,096	-62,666	53,080	-8,239	-1,383
Other long-term liabilities
-9,733	-60,221	10,046	27,148	31,144	7,209	-11,781	-27,881	-28,229	-182,839	-32,684	-72,627	-53,267	-3,512	35,406	-52,381	10,284	248,305	4,721	-267,127	7,325	162,895	12,934	17,766	188,028	-25,195	-47,681	-5,086	-31,123	-35,842	50,134	9,730	5,835	-7,063	-25,989	230	4,855	8,743	-19,430	3,745	4,138
Net cash provided by (used for) operating activities
59,162	253,730	157,743	203,231	69,854	248,854	-438	159,040	-81,683	98,865	-26,579	48,461	-57,991	127,137	68,096	175,166	161,506	251,545	87,607	210,234	307,170	537,567	398,307	401,474	444,563	443,508	309,307	486,113	179,295	468,660	382,108	467,754	244,183	348,353	238,232	578,978	290,924	424,850	212,225	246,762	223,147
Cash flows from investing activities:
Purchases of investments
-	-685	436	351	4,221	0	0	0	676	0	2,233	4,485	4	-	-	-	-	-	-	-	-	0	53	-20	286	-	-	-	-	0	154	4	791	2,179	1,622	2,075	5,870	6,452	-293	23,604	4,384
Sales and maturities of investments
1,835	4,383	2,547	10,785	1,134	1,325	360	1,454	1,148	536	104	12,338	91	96	276	326	41	102	114	122	623	412	342	22,505	733	566	783	20,825	142,336	1,833	4,594	2,039	23,478	14,483	3,958	17,093	3,529	2,510	4,106	15,488	12,509
Cash paid for acquisition of businesses, net of cash acquired
-	0	0	0	2,929	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62,334	0	0	10,200	79,455	0	0	37,516	-	-	-	-	-	-	-	0	-	-	-	-
Investment in unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	445	304	449	357	1,255	0	2,040	3,915	12	-	-	-	-	57,500	25,000	10,762	19,000	0	30,000	9,941	995
Capital expenditures
59,430	61,147	92,115	133,409	141,070	119,970	129,497	115,445	94,026	125,603	133,095	132,342	183,427	110,505	91,716	63,359	129,875	123,059	177,375	202,438	364,234	477,093	481,542	466,215	396,465	397,494	280,343	264,829	235,539	296,859	253,908	494,174	473,687	510,020	529,352	644,671	358,574	289,324	271,498	218,715	150,740
Proceeds from sales of assets and insurance claims
6,822	33,923	14,508	9,215	2,642	22,432	9,394	74,196	3,076	25,128	14,009	15,543	3,253	8,234	12,763	8,386	5,448	38,042	5,374	15,793	8,997	26,936	60,482	47,738	21,605	169,284	109,523	23,126	6,605	21,369	11,509	95,602	21,321	70,023	8,468	96,576	5,491	4,988	8,517	8,885	8,682
Proceeds from merger transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-10,000	-33,400	693,450	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	106	-	57	-4,477	4,439	619	109	-99	-1,710	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used for) provided by investing activities
-50,773	-22,156	-75,496	-113,760	-144,444	-117,072	-119,743	-39,795	-90,478	-36,856	-171,979	-108,840	-180,193	-124,434	-78,758	-50,170	-128,825	-107,813	-181,996	-277,741	340,101	-509,581	-424,390	-397,070	-385,868	-304,465	-168,942	-217,935	-124,126	-115,453	-237,959	-396,537	-429,679	-485,193	-575,230	-424,632	-374,424	-341,678	-968,812	-227,887	-134,928
Cash flows from financing activities:
Increase (decrease) in cash overdrafts
55	-	-	-	-	-	-	-	-	-	-36	427	-469	-	-289	-1,348	1,642	282	53	1,327	-1,017	-2,284	-484	-1,561	-1,822	3,076	1,189	-6,711	-1,975	3,360	312	209	-2,269	1,301	-6,129	3,638	7,565	-1,649	1,481	-2,793	-3,337
Proceeds from issuance of long-term debt
1,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt
-	-	-	-	-	0	0	0	800,000	0	0	0	411,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction in long-term debt
1,068,405	76,167	17,227	318,426	43,540	103,476	313,965	0	460,837	-1,001	4,832	207,492	170,491	987	344,580	0	148,045	-	-	-	-	-	-	-	-	-	-	-	-	26	274,997	163	1,072	10	24	1,398,687	5,560	84,161	40,748	166,774	106,831
Debt issuance costs
15,737	1,719	-1	14	35	8,015	272	62	12,928	4	2	598	10,439	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving credit facilities
795,000	75,000	185,000	610,000	180,000	230,000	280,000	10,000	615,000	-	-	-	-	51,500	300,000	110,000	150,000	-	-	-	-	450,000	0	0	15,000	-	-	-	-	0	510,000	50,000	150,000	-	-	-	-	-	-	-	-
Reduction in revolving credit facilities
-650,000	-175,000	-210,000	-430,000	-50,000	-275,000	-65,000	-455,000	-680,000	-	-	-	-	-351,500	0	-190,000	-70,000	0	0	-200,000	-250,000	-300,932	-5,000	7,500	67,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (payments for) short-term borrowings
-	-	-	-	289	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends to shareholders
-	-	-	-	-	-	-	-	-	-	-	17,157	17,040	-	17,005	0	16,922	16,874	17,509	17,510	17,470	17,364	17,989	11,899	11,893	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (payment for) commercial paper
-	-	-	-	-	0	0	0	-40,000	-	-	-	-	-23,000	16,500	-2,825	1,325	-362,575	45,923	74,148	-282,615	-238,255	330,302	150,822	-39,594	-2,406	37,250	307,891	-12,891	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common and preferred shares
13,858	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash proceeds (payments) from equity component of exchangeable debt
-	-	-	-	-	-	-	-	-	0	0	0	159,952	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of capped call hedge transactions
-	-	-	-	-	-	-	-	-	0	0	0	40,250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loan
-	-	-	-	-	0	0	0	800,000	0	0	0	411,200	-	-	-	-	325,000	0	0	300,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on term loan
-	-	-	-	-	-	-	-	-	0	0	0	162,500	-	-	-	-	0	0	0	300,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from short-term borrowings
-	-	-	-	-	128	190	-132	194	-	-355	-189	16	177	-55	-5,705	-628	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common shares, net of issuance costs
-	-	-	-	-	-	-	-	-	0	0	0	8,300	-	-	-	-	98	0	1,016	182	23	1,193	24,116	4,931	1,008	1,175	2,173	1,027	382	1,059	254	-5,320	-570	553	2,198	9,424	2,810	658	1,915	2,818
Repurchase of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,687	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends to common and preferred shareholders
7,937	7,940	7,938	7,940	25,765	25,757	25,141	19,052	17,148	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-1,546	-3,139	726	-844	-1,493	-5,190	-34	-1,443	-2,245	-535	-20	-2,503	-5,341	-416	-33	-1,090	-3,190	-233	-108	-2,877	-4,549	-3,969	-278	4,282	-11,585	9,800	-73	-4,418	1,395	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of equity component of convertible debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	0	-14	0	0	-2,101	-2,611
Settlement of call options and warrants, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,268	-1	-733	-400
Purchase of restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	302	1,769	-	52	187	2,340	31	17	21	1,866
Tax (expense) benefit related to share-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18	-5	-31	-	143	43	-1	69	7	22	-67
Net cash (used for) provided by financing activities
37,572	-189,814	-53,117	-148,098	59,456	-31,752	-124,533	109,878	202,036	88,420	193,331	57,491	172,938	85,157	-44,939	-90,929	-87,505	-136,749	-73,996	-83,727	-555,469	77,317	27,609	77,385	-112,463	-142,661	-253,493	-320,988	-12,444	-300,015	6,356	-100,007	139,539	261,160	88,194	-195,183	9,074	-84,752	645,519	-169,019	-111,494
Effect of exchange rate changes on cash and cash equivalents
-2,219	-1,750	-2,453	823	-2,791	57	-1,683	-2,770	-867	-280	-741	-849	1,841	-874	-1,108	-989	968	-3,819	-16,924	1,908	-6,950	-8,607	-8,031	2,288	-9,266	-2,390	923	-3,950	-2,759	168	659	-4,834	1,404	-1,206	-4,557	-77	2,460	3,599	3,158	-4,872	-1,931
Net increase (decrease) in cash and cash equivalents and restricted cash
43,742	40,010	26,677	-57,804	-17,925	100,087	-246,397	226,353	29,008	150,149	-5,968	-3,737	-63,405	86,986	-56,709	33,078	-53,856	3,164	-185,309	-149,326	84,852	96,696	-6,505	84,077	-63,034	-6,008	-112,205	-56,760	39,966	53,360	151,164	-33,624	-44,553	123,114	-253,361	-40,914	-71,966	2,019	-107,910	-155,016	-25,206
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Payments for hedge transactions
-	-	-	-	-	-	-	-	-	0	0	0	40,250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-