Patterson-UTI Energy, Inc. PTEN Cash Flow

Patterson-uti energy, inc. (PTEN)

CashFlow / TTM

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
Cash flows from operating activities:
Net loss
-831,811	-425,703	-541,029	-354,352	-315,618	-321,421	75,230	116,503	35,032	5,910	-267,614	-317,988	-311,670	-318,634	-299,170	-441,005	-374,114	-294,486	-178,245	63,709	136,967	162,664	121,672	180,116	166,601	188,009	230,277	206,663	258,433	299,477	328,213	359,335	348,435	322,413	288,672	236,118	184,008	116,942	44,918	-3,036	-50,307	-38,290	0	0	0
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and impairment
976,260	1,003,873	1,036,252	917,140	920,836	916,318	915,082	830,072	837,016	783,341	729,412	696,234	647,881	668,434	686,511	855,198	866,147	864,759	869,614	775,288	746,790	718,730	721,691	624,600	608,356	597,469	547,142	548,801	540,096	526,614	521,425	489,745	464,017	437,279	403,240	377,958	353,992	333,493	322,206	306,357	295,831	289,847	0	0	0
Impairment of goodwill
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dry holes and abandonments
262	109	440	447	840	915	0	0	0	-	-	-	-	-	-	-	-	1,224	372	343	313	550	372	395	362	89	245	238	262	308	1,109	1,148	1,221	1,213	261	183	217	519	488	497	352	129	0	0	0
Deferred income tax benefit
-164,792	-103,202	-96,066	-47,952	-48,071	-41,185	-250,773	-247,762	-293,117	-330,346	-147,305	-184,201	-177,491	-152,160	-98,687	-118,291	-87,689	-99,873	-15,728	13,216	29,866	43,673	-63,394	-4,947	16,021	50,569	91,838	103,608	136,584	160,436	180,539	191,542	168,755	158,967	217,281	196,103	179,186	147,490	146,183	120,908	99,244	101,443	0	0	0
Stock-based compensation expense
39,150	39,328	39,534	39,041	37,898	37,925	37,831	41,585	46,717	44,483	42,295	36,302	28,244	28,324	28,454	28,871	28,866	28,510	28,273	27,904	27,176	27,032	26,808	26,731	26,699	25,891	25,010	24,064	23,630	23,185	22,741	22,294	22,055	20,904	20,264	18,642	16,960	16,779	16,247	16,762	17,726	18,214	0	0	0
Net gain on asset disposals
8,598	13,904	18,925	22,002	25,093	28,958	35,617	35,615	30,360	33,510	24,042	22,871	25,886	14,771	13,145	11,966	10,142	10,613	14,352	16,860	16,953	15,781	9,803	7,311	5,253	3,384	3,397	3,982	31,281	33,806	33,636	33,110	5,795	4,999	4,930	3,743	24,665	22,812	18,132	18,750	-3,423	-3,385	0	0	0
Credit loss expense
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,100	0	0	0	-	-	-	-	-	-	-	-	-3,810	0	0	0
Tax expense related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	4,868	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,291	2,819	2,721	3,828	3,004	0	0	0
Amortization of debt discount and issuance costs
944	937	891	886	881	830	693	560	429	346	346	1,720	1,995	2,270	2,545	1,446	1,444	1,245	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
-222,149	-213,588	-235,700	-100,066	-50,912	-23,515	61,050	126,303	193,659	239,482	248,822	154,774	27,326	-72,327	-156,322	-202,267	-301,574	-440,884	-288,284	-173,080	1,953	214,059	107,370	8,931	-1,793	-12,007	18,539	-27,035	-65,501	-52,612	2,305	122,197	173,122	183,165	214,360	202,478	200,864	178,444	139,498	98,918	-382,988	-213,813	0	0	0
Income taxes receivable
-5,317	-3,353	-7,584	-4,505	-1,588	-1,555	5,764	-173	1,257	990	57,404	29,191	26,785	30,379	73,408	-41,303	-59,470	49,895	-158,090	14,648	6,179	-92,352	12,562	-17,506	19,894	4,447	-1,235	516	1,034	-3,506	1,715	589	-81,093	-77,618	-5,331	-3,581	-49,471	-43,522	-5,661	-1,431	113,433	108,664	0	0	0
Inventory and other assets
-31,194	-29,394	-48,644	-19,840	-2,413	1,470	5,073	19,540	30,671	23,449	28,610	27,317	-12,622	-5,664	-20,174	-31,233	-32,405	-38,993	-26,724	-27,061	-658	6,390	8,939	8,521	3,589	-570	491	13,637	-6,616	-5,276	-5,991	-6,336	9,364	13,491	12,533	9,208	5,319	8,772	424	835	-16,534	-14,178	0	0	0
Accounts payable
-82,827	-77,686	-81,788	-62,962	-64,797	-69,453	-19,362	22,268	70,306	104,072	123,175	96,134	38,164	12,024	-30,561	-48,963	-81,341	-131,649	-105,984	-71,815	-839	86,621	60,989	35,841	12,210	11,331	10,110	8,769	-34,232	-25,199	-29,127	22,880	58,360	41,995	75,922	41,784	44,164	49,576	58,467	49,354	40,393	-52,673	0	0	0
Accrued liabilities
-36,681	-18,218	-38,337	-14,206	-4,167	4,136	-4,627	-1,730	217	-14,190	-1,040	-15,917	-20,610	-24,573	-25,193	-30,067	-23,058	-10,303	-2,302	-1,178	20,045	12,838	29,282	26,548	18,023	1,973	-2,913	-7,239	-11,512	-6,048	3,823	-4,812	11,428	18,313	6,305	13,597	15,355	18,072	22,559	21,484	-281	-21,178	0	0	0
Other liabilities
-10,565	-9,139	-5,410	-3,103	-1,038	-56	1,037	951	423	617	1,916	1,390	1,449	560	-2,336	-3,373	-3,833	-2,348	-306	2,637	5,183	4,547	3,462	1,732	68	-100	-249	-14	113	-837	-2,402	-4,171	-9,528	-8,111	-5,433	-2,704	3,248	3,234	2,181	1,131	387	-92	0	0	0
Net cash used in operating activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-339	-636	-636	-636	10,390	-11,676	3,533	33,816	32,759	0	0	0
Net cash provided by operating activities
585,662	696,203	825,765	795,734	764,537	730,670	658,192	585,561	445,119	300,711	183,593	138,492	196,858	305,034	446,104	540,703	708,185	999,437	968,432	1,009,208	954,214	728,726	798,504	865,707	858,651	888,871	879,690	893,214	951,392	1,005,340	995,050	928,793	959,155	868,597	779,128	667,390	611,059	525,698	442,636	394,257	327,119	453,677	0	0	0
Acquisitions, net of cash acquired
-	13	10,424	10,424	10,424	14,211	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
301,099	347,512	444,178	538,935	636,878	641,458	717,804	698,080	621,568	567,087	369,139	254,755	166,938	119,799	216,067	331,977	523,611	743,776	886,770	1,027,936	1,123,435	1,052,341	952,968	817,901	658,672	662,461	712,924	794,521	884,746	973,988	1,044,490	1,096,025	1,092,429	1,011,578	935,847	866,863	811,704	738,090	615,884	504,948	471,792	452,646	0	0	0
Proceeds from disposal of assets and insurance claims
27,987	45,761	51,783	57,868	59,117	47,357	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of assets
-	-	-	-	-	-	-	-	-	-	43,177	44,536	42,650	21,889	23,278	22,436	20,087	20,814	26,654	28,970	32,470	33,233	24,603	20,784	16,269	10,386	10,614	11,675	62,083	66,027	77,136	73,966	25,192	22,495	11,239	11,652	31,075	29,409	27,410	27,972	3,243	3,359	0	0	0
Net cash provided by investing activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,500	25,492	25,492	25,492	42,638	42,646	42,503	42,561	-54	0	0	0
Net cash used in investing activities
-273,112	-301,764	-402,819	-491,491	-564,425	-584,552	-716,323	-701,447	-1,084,464	-1,010,616	-762,676	-644,258	-124,133	-97,755	-192,634	-309,541	-503,524	-722,962	-1,036,417	-1,175,267	-1,267,266	-1,195,409	-928,365	-797,117	-642,403	-652,075	-702,310	-782,846	-822,663	-907,961	-967,354	-1,022,059	-1,067,237	-963,583	-1,137,138	-1,067,741	-993,159	-904,065	-545,828	-434,473	-425,988	-449,341	0	0	0
Proceeds from equity offering
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of treasury stock
200,379	255,467	280,357	256,010	219,922	161,737	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	13,554	13,658	77,033	70,679	73,510	133,512	108,986	173,151	170,292	110,281	71,435	4,309	4,314	4,224	4,636	1,485	1,853	1,848	1,878	1,795	1,623	0	0	0
Dividends paid
31,558	32,428	33,319	34,157	34,645	30,589	26,409	21,995	17,432	16,315	14,827	13,509	12,193	23,579	35,329	47,088	58,847	58,775	58,700	58,622	58,472	58,288	50,860	43,457	36,256	29,112	29,250	29,537	29,826	30,302	30,744	31,003	31,125	31,045	30,966	30,893	30,827	30,796	30,763	30,734	30,703	30,681	0	0	0
Proceeds from long-term debt
-	-	-	-	-	521,194	0	0	0	-	-	-	-	-	-	-	-	200,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	255,000	265,000	42,500	35,000	27,500	20,000	15,000	10,000	10,000	10,000	8,750	7,500	6,250	5,000	3,750	92,500	93,750	95,000	96,250	7,500	6,250	0	0	0	-	-	-	-	-	-	-	-
Tax benefit related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,729	8,685	8,488	4,018	4,794	0	0	0	-	-	-	6,224	6,393	0	0	0	-	-	-	-	-	-	-	-
Proceeds from borrowings under revolving credit facility
-	-	-	-	-	79,000	396,000	517,000	668,000	599,000	0	0	0	-	-	-	-	54,000	0	0	0	-	-	-	-	-	-	-	-	123,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of borrowings under revolving credit facility
-	-	-	-	-	347,000	540,000	632,000	668,000	331,000	0	0	0	-	-	-	-	357,000	0	0	0	-	-	-	-	-	-	-	-	233,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	4,489	0	0	0	-	-	-	-	-	-	-	-	1,979	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,169	0	0	0
Proceeds from exercise of stock options
-	-	-	-	-	485	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	30,842	30,726	22,265	8,697	6,959	7,633	7,698	7,034	934	3,031	3,998	16,607	16,811	14,275	13,243	761	525	480	588	695	569	0	0	0
Net cash provided by financing activities
-409,263	-465,221	-471,907	-290,323	-254,858	56,864	235,269	317,513	476,435	716,569	579,203	336,246	207,678	-285,278	-292,755	-94,328	-101,896	-199,264	111,932	126,268	145,654	260,729	-35,107	-98,487	-101,720	-97,119	-55,388	-35,745	-1,953	-10,991	44,230	104,913	88,397	91,595	295,272	368,426	355,505	355,847	57,541	-32,024	-32,424	-37,904	0	0	0
Effect of foreign exchange rate changes on cash
12	-62	-242	-314	-604	-781	-945	149	553	1,012	747	25	-352	-195	-208	-3,713	-3,125	-6,877	-6,076	-4,540	-3,431	-543	-1,074	1,857	-813	-891	-829	-1,045	-570	389	902	-932	-160	-275	-533	530	381	255	324	554	2,889	2,222	0	0	0
Net increase in cash and cash equivalents
-96,701	-70,844	-49,203	13,606	-55,350	202,201	176,193	201,776	-162,357	7,676	867	-169,495	280,051	-78,194	-39,493	133,121	99,640	70,334	37,871	-44,331	-170,829	-206,497	-166,042	-28,040	113,715	138,786	121,163	73,578	126,206	86,777	72,828	10,715	-19,845	-3,666	-63,271	-31,395	-26,214	-22,265	-45,327	-71,686	-128,404	-31,346	0	0	0
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
77,582	76,870	57,159	50,535	49,667	41,184	43,923	33,886	36,525	34,953	32,914	32,939	33,412	36,551	36,691	37,198	36,442	33,452	0	0	0	-	-	-	-	26,228	36,762	37,490	17,015	16,651	-14,890	-15,123	-11,854	-13,177	-10,946	-10,160	-2,207	-2,220	6,275	4,054	119	1,804	0	0	0
Income taxes
-1,439	-1,452	-966	2,024	3,136	3,172	3,358	3,001	3,720	3,947	11,595	34,080	33,339	52,716	78,535	180,676	200,093	97,333	263,990	116,302	52,819	125,953	-63,013	1,749	36,142	42,600	47,445	1,976	5,811	7,964	-8,902	-9,350	58,040	59,251	60,038	61,290	114,575	115,666	121,936	121,681	15,205	14,029	0	0	0
Non-cash investing and financing activities:
Receivable from property and equipment insurance
-	-	-	-	-	15,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in payables for purchases of property and equipment
-37,458	-40,857	-60,245	-68,726	-37,011	36,241	28,854	58,322	58,419	17,228	60,961	53,581	36,160	28,926	-55,053	-107,538	-152,361	-167,308	-98,494	-24,482	52,462	122,148	128,190	85,413	17,864	-26,899	-70,944	-52,340	-6,352	-27,838	3,020	-11,637	23,170	37,838	0	0	0	-	-	-	-	-	-	-	-
Net decrease in deposits on equipment purchases
3,775	3,974	11,805	14,458	8,140	4,311	-4,031	-8,853	461	-301	2,673	5,053	-711	6,317	18,163	29,771	61,764	90,012	76,425	30,377	-22,922	-59,819	-71,261	-48,131	-21,324	-8,784	13,754	58,586	61,730	55,767	26,151	-22,270	-26,056	-48,459	-31,072	-33,363	-53,875	-50,170	-49,861	-19,613	5,814	43,029	0	0	0