Patterson-UTI Energy, Inc. PTEN Cash Flow

Patterson-uti energy, inc. (PTEN)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07
Cash flows from operating activities:
Net loss
-425,703	-321,421	5,910	-318,634	-294,486	162,664	188,009	299,477	322,413	116,942	-38,290	347,069	438,639
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and impairment
1,003,873	916,318	783,341	668,434	864,759	718,730	597,469	526,614	437,279	333,493	289,847	275,990	246,346
Impairment of goodwill
17,800	211,129	-	-	124,561	-	-	-	-	-	-	-	-
Dry holes and abandonments
109	915	1,929	58	1,224	550	89	308	1,213	519	129	1,617	1,309
Deferred income tax benefit
-103,202	-41,185	-330,346	-152,160	-99,873	43,673	50,569	160,436	158,967	147,490	101,443	65,392	38,322
Stock-based compensation expense
39,328	37,925	44,483	28,324	28,510	27,032	25,891	23,185	20,904	16,779	18,214	19,688	18,873
Net gain on asset disposals
13,904	28,958	33,510	14,771	10,613	15,781	3,384	33,806	4,999	22,812	-3,385	4,163	16,432
Write-down of capacity reservation contract
12,673	-	-	-	-	-	-	-	-	-	-	-	-
Credit loss expense
5,700	0	0	-	-	-	-	1,100	0	2,000	-3,810	4,350	2,875
Loss on early debt extinguishment
-24,023	-	-	-	-	-	-	-	-	-	-	-	-
Tax expense related to stock-based compensation
-	-	-	4,868	1,362	-	-	1,284	-	2,291	3,004	-	0
Amortization of debt discount and issuance costs
937	830	346	2,270	1,245	653	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
-213,588	-23,515	239,482	-72,327	-440,884	214,059	-12,007	-52,612	183,165	178,444	-213,813	30,777	100,429
Income taxes receivable
-3,353	-1,555	990	30,379	49,895	-92,352	4,447	-3,506	-77,618	-43,522	108,664	11,258	7,174
Inventory and other assets
-29,394	1,470	23,449	-5,664	-38,993	6,390	-570	-5,276	13,491	8,772	-14,178	-2,498	2,211
Accounts payable
-77,686	-69,453	104,072	12,024	-131,649	86,621	11,331	-25,199	41,995	49,576	-52,673	6,486	-37,412
Accrued liabilities
-18,218	4,136	-14,190	-24,573	-10,303	12,838	1,973	-6,048	18,313	18,072	-21,178	-4,474	-5,640
Other liabilities
-9,139	-56	617	560	-2,348	4,547	-100	-837	-8,111	3,234	-92	1,242	1,434
Net cash used in operating activities of discontinued operations
-	-	-	-	-	-	-	-	-339	10,390	32,759	1,344	14,096
Net cash provided by operating activities
696,203	730,670	300,711	305,034	999,437	728,726	888,871	1,005,340	868,597	525,698	453,677	675,004	812,224
Acquisitions, net of cash acquired
13	14,211	501,954	-155	-	176,301	-	-	-	238,022	-	-	29,000
Purchases of property and equipment
347,512	641,458	567,087	119,799	743,776	1,052,341	662,461	973,988	1,011,578	738,090	452,646	445,426	604,604
Proceeds from disposal of assets and insurance claims
45,761	47,357	60,945	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of assets
-	-	-	21,889	20,814	33,233	10,386	66,027	22,495	29,409	3,359	11,436	34,054
Collection of note receivable
-	23,760	-	-	-	-	-	-	-	-	-	-	-
Other investments
-	-	2,520	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities of discontinued operations
-	-	-	-	-	-	-	-	25,500	42,638	-54	-3,286	-2,912
Net cash used in investing activities
-301,764	-584,552	-1,010,616	-97,755	-722,962	-1,195,409	-652,075	-907,961	-963,583	-904,065	-449,341	-437,276	-602,462
Cash flows from financing activities:
Proceeds from equity offering
-	-	471,570	-	-	-	-	-	-	-	-	-	-
Purchases of treasury stock
255,467	161,737	6,809	3,610	8,010	13,554	73,510	170,292	4,314	1,853	1,623	70,818	70,850
Dividends paid
32,428	30,589	16,315	23,579	58,775	58,288	29,112	30,302	31,045	30,796	30,681	92,865	68,561
Proceeds from long-term debt
496,969	521,194	-	-	200,000	-	-	400,000	-	400,000	-	-	-
Repayment of long-term debt
673,443	-	-	255,000	27,500	10,000	6,250	93,750	6,250	1,250	-	-	-
Tax benefit related to stock-based compensation
-	-	-	-	-	8,729	4,794	-	6,393	-	-	16,280	1,105
Proceeds from borrowings under revolving credit facility
-	79,000	599,000	200,500	54,000	349,500	-	123,400	153,100	200,000	-	-	142,500
Repayment of borrowings under revolving credit facility
-	347,000	331,000	200,500	357,000	46,500	-	233,400	43,100	200,000	-	50,000	212,500
Debt issuance costs
852	4,489	-	3,357	1,979	-	-	7,581	-	10,779	6,169	-	0
Proceeds from exercise of stock options
-	485	123	268	-	30,842	6,959	934	16,811	525	569	25,548	2,050
Net cash provided by financing activities
-465,221	56,864	716,569	-285,278	-199,264	260,729	-97,119	-10,991	91,595	355,847	-37,904	-171,855	-206,256
Effect of foreign exchange rate changes on cash
-62	-781	1,012	-195	-6,877	-543	-891	389	-275	255	2,222	-2,084	543
Net increase in cash and cash equivalents
-70,844	202,201	7,676	-78,194	70,334	-206,497	138,786	86,777	-3,666	-22,265	-31,346	63,789	4,049
Supplemental disclosure of cash flow information:
Net cash paid during the period for:
Interest, net of capitalized interest of $252 in 2020 and $257 in 2019
76,870	41,184	34,953	36,551	33,452	27,813	26,228	16,651	-13,177	-2,220	1,804	-323	-1,808
Income taxes
-1,452	3,172	3,947	52,716	97,333	125,953	42,600	7,964	59,251	115,666	14,029	-126,331	-176,281
Non-cash investing and financing activities:
Receivable from property and equipment insurance
-	15,000	-	-	-	-	-	-	-	-	-	-	-
Net decrease in payables for purchases of property and equipment
-40,857	36,241	17,228	28,926	-167,308	122,148	-26,899	-27,838	37,838	29,188	-25,110	-	-
Issuance of common stock for business acquisitions
-	2,932	1,226,890	6,733	-	-	-	-	-	-	-	-	-
Net decrease in deposits on equipment purchases
3,974	4,311	-301	6,317	90,012	-59,819	-8,784	55,767	-48,459	-50,170	43,029	-42,293	23,095
Cashless exercise of stock options
9,219	-	-	-	-	-	-	-	-	-	-	-	-