UNIT CORPORATION UNT Cash Flow

Unit corporation (UNT)

CashFlow / Quarterly

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
OPERATING ACTIVITIES:
Net income (loss)
-335,740	-207,789	-8,017	-2,282	-76,905	21,123	8,150	7,865	89,155	3,705	9,059	15,929	1,683	-24,022	-72,136	-41,149	-309,337	-205,281	-274,389	-248,354	-42,551	67,522	54,360	56,945	51,301	34,232	59,007	40,206	-56,547	46,586	-19,302	52,439	51,661	53,360	49,819	41,027	43,665	34,491	32,175	36,153
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, and amortization
76,941	70,214	66,292	62,126	64,629	63,537	58,373	57,066	57,712	54,533	50,080	46,932	49,916	49,969	52,878	55,590	73,003	83,163	92,986	103,590	108,476	103,599	102,381	88,432	91,317	83,221	82,213	77,156	84,671	71,210	84,093	79,047	78,527	72,449	67,898	61,577	62,194	52,626	46,991	43,313
Impairments (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	0	49,443	74,291	37,829	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs and debt discount (Note 8)
564	562	559	556	553	550	549	546	543	541	539	536	536	532	528	526	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of oil and natural gas properties (Note 2)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400,593	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on derivatives (Note 14)
-1,007	4,237	7,927	-6,932	22,424	-4,385	-14,461	-6,762	-6,287	-2,614	8,902	14,731	-18,039	6,969	-22,672	10,929	13,428	8,250	-1,919	6,586	39,381	19,841	-10,709	-18,366	-4,229	-16,971	15,522	-2,093	55,231	-4,015	1,387	-1,993	-3,452	2,464	3,475	-2,328	-166	-251	305	1,148
Derivative Instruments Not Designated Amount Paid (Received) During Period
-4,367	-6,515	-2,658	-2,656	4,763	9,112	6,855	2,073	-902	-840	410	1,159	2,077	457	-5,052	-7,140	-14,459	-11,074	-10,070	-11,012	-	-	-	8,872	-616	5,645	1,003	-4,871	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on disposition of assets
-2,078	-231	422	-1,615	129	253	161	161	-826	81	248	824	2,027	154	477	469	-959	-7,230	415	545	-	-	195	9,426	9,332	4,345	3,483	-84	-1,030	44	651	588	-133	-620	328	-170	108	-839	4,983	5,435
Deferred tax benefit (Note 10)
-77,964	-50,763	-1,874	-444	-23,245	6,744	2,029	3,607	-79,767	1,769	6,379	13,936	1,950	-14,599	-42,842	-15,718	-169,112	-121,437	-165,140	-150,643	-10,517	35,802	25,844	26,156	23,166	19,749	35,165	22,652	-35,147	27,268	-9,696	33,105	31,327	37,352	31,458	25,414	34,495	29,917	16,105	20,155
Employee stock compensation plans
-4,095	5,840	6,053	5,134	5,502	5,324	5,464	6,609	5,269	4,412	4,362	3,704	3,148	2,961	2,905	4,798	8,954	185	6,466	5,863	6,540	6,125	6,211	5,444	4,665	5,998	6,003	4,651	4,685	4,293	4,286	3,692	3,523	3,754	3,740	3,286	3,464	-873	4,160	3,316
Contract assets and liabilities, net (Note 3)
670	647	583	700	1,299	1,300	1,179	1,192	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
566	-1,215	-544	-573	803	-837	-1,061	-937	2,262	-1,098	327	-626	2,982	300	1,486	1,269	3,351	110	-570	-1,374	4,088	-2,080	-1,897	-1,179	2,013	-1,258	-1,404	-1,601	2,595	-1,158	-1,030	-1,188	2,446	-928	-917	-895	2,182	-796	-1,993	676
Changes in operating assets and liabilities increasing (decreasing) cash:
Accounts receivable
5,498	-11,882	-8,109	-18,830	-2,644	8,746	9,870	-8,005	-8,440	21,294	13,187	1,900	12,555	4,684	4,560	-10,003	-21,328	-6,204	-25,984	-51,910	13,096	2,554	-10,025	55,175	-1,079	-14,889	5,306	7,695	-9,478	-2,841	-4,535	2,860	12,613	14,711	6,691	4,716	23,102	18,076	4,483	13,304
Materials and supplies
-75	8	21	22	-32	4	46	-50	-2,818	32	24	-73	6	10	21	-262	-3,621	-252	-21	2,387	-380	236	323	-2,781	668	1,016	111	640	-1,588	1,820	546	-417	106	1,324	482	-26	-252	-347	246	-245
Accounts payable
16,048	-1,232	-9,526	-20,848	42,880	-14,464	10,313	-10,716	3,319	1,149	11,459	-7,735	460	2,863	13,064	11,013	-15,874	11,895	-13,196	-3,131	3,007	13,293	-155	-11,430	15,395	-1,899	-21,113	23,332	21,940	16,834	-6,852	-21,735	29,375	-4,315	-10,172	-15,952	-989	-9,970	1,080	966
Accrued liabilities
-13,944	18,331	-3,994	2,749	-21,707	14,670	-5,185	6,757	-13,284	19,524	-9,076	9,832	-18,461	10,662	-7,291	10,702	-22,557	11,448	-5,516	-6,295	-29,893	21,156	-1,226	8,666	-13,843	19,728	2,376	8,937	-16,284	25,346	-3,700	1,549	-4,242	7,415	5,971	101	-8,676	7,771	1,619	-4,269
Contract advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	663	-411	-3,444	2,665	-1,262	1,073	1,184	-1,537
Other, net
-	-6,955	1,428	-203	-	1,449	1,032	494	-	1,041	-1,714	-433	-	1,856	-457	-2,384	-	-709	-932	-3,908	-	2,447	-1,623	-394	-	68	1,402	-2,412	-	579	599	300	-	-5,688	-3,094	-4,384	-	-6,937	-4,162	-536
Net cash provided by operating activities
49,946	91,949	50,423	77,078	111,265	81,842	76,072	83,568	85,296	67,737	51,403	65,652	42,368	65,046	62,003	70,713	65,462	123,876	97,297	160,309	159,466	223,999	202,068	123,460	173,370	183,073	138,228	179,660	178,771	197,108	167,085	147,947	190,604	158,341	138,305	121,205	106,176	106,129	98,100	79,667
INVESTING ACTIVITIES:
Capital expeditures
41,711	118,316	124,131	122,507	142,228	114,138	99,667	90,249	88,161	59,459	70,297	37,636	31,591	30,376	48,147	76,035	77,425	112,456	138,160	233,412	294,969	266,170	222,969	197,266	191,410	173,274	146,373	192,927	177,523	213,155	178,879	192,824	187,507	197,289	178,138	165,617	148,259	118,277	112,275	105,269
Producing property and other oil and natural gas acquisitions
308	32	1,733	1,580	29,201	-193	962	0	2,597	2,473	45,448	7,508	564	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-1,836	598,128	2,147	46	-512	40,734	5,739	4,052	-413	-1,388	93,736	294
Proceeds from disposition of property and equipment
21,358	3,166	4,150	3,190	594	1,788	1,444	22,084	1,576	581	3,440	16,116	27,943	253	8,247	38,380	2,016	4,708	2,745	2,385	16,856	8,516	4,077	36,748	30,994	73,087	15,373	1,456	-14,758	290,294	2,837	3,451	2,549	6,175	1,147	457	5,713	350	15,672	18,313
Other
-	-	-	-	-	-	-	-	-	-	-	-	-750	0	0	-169	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-324
Net cash used in investing activities
-36,770	-115,182	-121,714	-120,897	-170,835	-112,157	-99,185	-68,165	-89,182	-61,351	-113,805	-29,028	-3,462	-30,123	-39,900	-37,486	-75,588	-107,748	-135,415	-231,027	-283,836	-257,654	-218,589	-160,518	-156,522	-100,187	-131,000	-191,471	-190,445	-520,989	-178,189	-189,419	-184,446	-231,848	-182,730	-169,212	-142,457	-116,539	-190,339	-86,926
FINANCING ACTIVITIES:
Borrowings under line of credit
101,300	121,000	161,400	109,800	27,900	0	3,800	67,400	92,499	90,801	110,900	49,700	55,698	45,400	75,300	75,000	133,900	88,600	171,601	224,399	330,100	266,400	125,300	4,000	0	38,600	60,600	123,300	191,600	293,200	146,800	103,700	107,400	169,600	75,700	88,800	81,900	38,600	147,300	19,100
Payments under line of credit
114,800	93,800	90,400	69,800	27,900	0	151,500	97,700	76,600	93,600	96,000	60,500	109,900	66,400	99,500	95,800	114,600	107,400	128,400	153,100	194,900	235,600	125,300	4,000	0	108,600	60,600	124,400	120,500	376,100	129,700	87,900	112,800	114,200	260,700	66,800	53,900	33,600	47,300	19,100
Payments on finance leases
1,017	1,004	995	985	974	968	955	946	727	1,066	955	946	938	928	918	910	901	891	883	874	887	794	711	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	157	39	37	850	-4	497	9	72	125	1	89	0	35	0	131	513	27	3	-127	246
Tax expense from stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-376	-3,211	0	4	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Noncontrolling Interests
0	0	0	918	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank overdrafts (Note 3)
1,378	-3,013	2,137	3,161	-24,320	18,581	-17,475	15,894	-7,275	-2,548	22,213	-17,301	16,214	-13,056	3,250	-11,237	-5,121	3,618	-4,229	108	-11,560	3,427	17,221	18,667	0	-12,683	-7,349	13,018	-59,721	20,444	-6,195	26,032	-2,292	18,129	-14,754	25,371	8,440	4,779	-6,912	6,912
Net cash provided by financing activities
-13,217	23,176	68,069	41,258	-25,535	17,564	126,669	-15,352	3,765	-6,413	54,781	-29,047	-38,926	-34,984	-21,868	-33,323	10,067	-16,073	38,093	70,533	124,524	33,472	16,547	19,517	4	-82,186	-7,340	11,990	11,625	323,819	10,994	41,832	-6,483	73,444	44,412	47,884	36,507	9,782	92,961	7,158
Net increase (decrease) in cash and cash equivalents
-41	-57	-3,222	-2,561	-85,105	-12,751	103,556	51	-121	-27	-7,621	7,577	-20	-61	235	-96	-59	55	-25	-185	154	-183	26	-17,541	16,852	700	-112	179	-49	-62	-110	360	-325	-63	-13	-123	226	-628	722	-101
Supplemental disclosure of cash flow information:
Interest paid (net of capitalization)
20,008	-2,062	12,441	3,307	20,117	-3,828	16,515	1,731	19,330	31,414	-14,424	-2,389	19,040	36,480	-21,854	2,024	18,219	-3,195	20,361	-4,475	14,960	-7,563	13,907	-7,684	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
-	0	0	0	-	3,600	0	0	-	0	0	0	-	0	0	0	-	135	2,642	500	-	200	8,700	7,100	-	200	7,085	15	-	-	-	-	-	-	-	-	-	-	-	-
Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment
14,339	46,470	-5,619	-641	10,651	-25,023	9,491	-13,238	-452	-11,351	2,630	-11,401	-15,744	6,176	11,073	19,685	-10,905	23,319	9,177	83,566	10,683	-13,404	-29,556	309	-6,034	-29,131	-14,717	43,332	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash reductions to oil and natural gas properties related to asset retirement obligations
-1,982	3,963	1,013	-3,070	-917	692	1,514	6,340	6,816	-4,782	667	912	1,474	539	467	28,417	-2,864	2,602	-131	6,087	-2,827	25,084	460	14,972	1,535	28,362	143	-12,088	-	-	-	-	-	-	-	-	-	-	-	-