Condensed Consolidating Financial Information (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheets |
The following condensed consolidating balance sheets, statements of operations, statements of comprehensive (loss) income and statements of cash flows are provided for the Parent, the Guarantors and the Non-Guarantor and include the consolidating adjustments and eliminations necessary to arrive at the information for the Company on a condensed consolidated basis. The information has been presented using the equity method of accounting for the Parent’s ownership of the Guarantors and the Non-Guarantor.
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
72,062 |
|
|
$ |
45,493 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
117,555 |
|
Accounts receivable - oil and natural gas |
121,565 |
|
|
42,589 |
|
|
— |
|
|
— |
|
|
164,154 |
|
Accounts receivable - related parties |
185 |
|
|
— |
|
|
— |
|
|
— |
|
|
185 |
|
Accounts receivable - intercompany |
459,503 |
|
|
45,749 |
|
|
— |
|
|
(505,252 |
) |
|
— |
|
Prepaid expenses and other current assets |
4,113 |
|
|
166 |
|
|
— |
|
|
— |
|
|
4,279 |
|
Short-term derivative instruments |
46,416 |
|
|
— |
|
|
— |
|
|
— |
|
|
46,416 |
|
Total current assets |
703,844 |
|
|
133,997 |
|
|
— |
|
|
(505,252 |
) |
|
332,589 |
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting |
6,142,757 |
|
|
2,358,762 |
|
|
— |
|
|
(729 |
) |
|
8,500,790 |
|
Other property and equipment |
79,478 |
|
|
43 |
|
|
— |
|
|
— |
|
|
79,521 |
|
Accumulated depletion, depreciation, amortization and impairment |
(3,937,621 |
) |
|
(35 |
) |
|
— |
|
|
— |
|
|
(3,937,656 |
) |
Property and equipment, net |
2,284,614 |
|
|
2,358,770 |
|
|
— |
|
|
(729 |
) |
|
4,642,655 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
2,179,931 |
|
|
52,946 |
|
|
51,605 |
|
|
(2,028,217 |
) |
|
256,265 |
|
Long-term derivative instruments |
19,761 |
|
|
— |
|
|
— |
|
|
— |
|
|
19,761 |
|
Deferred tax asset |
4,692 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,692 |
|
Inventories |
13,591 |
|
|
5,712 |
|
|
— |
|
|
— |
|
|
19,303 |
|
Other assets |
10,834 |
|
|
8,056 |
|
|
— |
|
|
— |
|
|
18,890 |
|
Total other assets |
2,228,809 |
|
|
66,714 |
|
|
51,605 |
|
|
(2,028,217 |
) |
|
318,911 |
|
Total assets |
$ |
5,217,267 |
|
|
$ |
2,559,481 |
|
|
$ |
51,605 |
|
|
$ |
(2,534,198 |
) |
|
$ |
5,294,155 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
385,908 |
|
|
$ |
109,826 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
495,734 |
|
Accounts payable - intercompany |
39,564 |
|
|
465,561 |
|
|
127 |
|
|
(505,252 |
) |
|
— |
|
Asset retirement obligation - current |
195 |
|
|
— |
|
|
— |
|
|
— |
|
|
195 |
|
Derivative instruments |
28,106 |
|
|
— |
|
|
— |
|
|
— |
|
|
28,106 |
|
Current maturities of long-term debt |
595 |
|
|
— |
|
|
— |
|
|
— |
|
|
595 |
|
Total current liabilities |
454,368 |
|
|
575,387 |
|
|
127 |
|
|
(505,252 |
) |
|
524,630 |
|
Long-term derivative instrument |
8,198 |
|
|
— |
|
|
— |
|
|
— |
|
|
8,198 |
|
Asset retirement obligation - long-term |
37,308 |
|
|
6,626 |
|
|
— |
|
|
— |
|
|
43,934 |
|
Long-term debt, net of current maturities |
1,802,554 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,802,554 |
|
Total liabilities |
2,302,428 |
|
|
582,013 |
|
|
127 |
|
|
(505,252 |
) |
|
2,379,316 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,828 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,828 |
|
Paid-in capital |
4,410,871 |
|
|
1,885,598 |
|
|
258,178 |
|
|
(2,143,776 |
) |
|
4,410,871 |
|
Accumulated other comprehensive (loss) income |
(47,171 |
) |
|
— |
|
|
(45,117 |
) |
|
45,117 |
|
|
(47,171 |
) |
Retained (deficit) earnings |
(1,450,689 |
) |
|
91,870 |
|
|
(161,583 |
) |
|
69,713 |
|
|
(1,450,689 |
) |
Total stockholders’ equity |
2,914,839 |
|
|
1,977,468 |
|
|
51,478 |
|
|
(2,028,946 |
) |
|
2,914,839 |
|
Total liabilities and stockholders’ equity
|
$ |
5,217,267 |
|
|
$ |
2,559,481 |
|
|
$ |
51,605 |
|
|
$ |
(2,534,198 |
) |
|
$ |
5,294,155 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
1,273,882 |
|
|
$ |
1,993 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,275,875 |
|
Restricted Cash |
185,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
185,000 |
|
Accounts receivable - oil and natural gas |
137,087 |
|
|
37,496 |
|
|
— |
|
|
(37,822 |
) |
|
136,761 |
|
Accounts receivable - related parties |
16 |
|
|
— |
|
|
— |
|
|
— |
|
|
16 |
|
Accounts receivable - intercompany |
449,517 |
|
|
1,151 |
|
|
— |
|
|
(450,668 |
) |
|
— |
|
Prepaid expenses and other current assets |
3,135 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,135 |
|
Short-term derivative instruments |
3,488 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,488 |
|
Total current assets |
2,052,125 |
|
|
40,640 |
|
|
— |
|
|
(488,490 |
) |
|
1,604,275 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
5,655,125 |
|
|
417,524 |
|
|
— |
|
|
(729 |
) |
|
6,071,920 |
|
Other property and equipment |
68,943 |
|
|
43 |
|
|
— |
|
|
— |
|
|
68,986 |
|
Accumulated depletion, depreciation, amortization and impairment |
(3,789,746 |
) |
|
(34 |
) |
|
— |
|
|
— |
|
|
(3,789,780 |
) |
Property and equipment, net |
1,934,322 |
|
|
417,533 |
|
|
— |
|
|
(729 |
) |
|
2,351,126 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
236,327 |
|
|
33,590 |
|
|
45,213 |
|
|
(71,210 |
) |
|
243,920 |
|
Long-term derivative instruments |
5,696 |
|
|
— |
|
|
— |
|
|
— |
|
|
5,696 |
|
Deferred tax asset |
4,692 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,692 |
|
Inventories |
3,095 |
|
|
1,409 |
|
|
— |
|
|
— |
|
|
4,504 |
|
Other assets |
8,932 |
|
|
— |
|
|
— |
|
|
— |
|
|
8,932 |
|
Total other assets |
258,742 |
|
|
34,999 |
|
|
45,213 |
|
|
(71,210 |
) |
|
267,744 |
|
Total assets |
$ |
4,245,189 |
|
|
$ |
493,172 |
|
|
$ |
45,213 |
|
|
$ |
(560,429 |
) |
|
$ |
4,223,145 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
255,966 |
|
|
$ |
9,158 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
265,124 |
|
Accounts payable - intercompany |
31,202 |
|
|
457,163 |
|
|
126 |
|
|
(488,491 |
) |
|
— |
|
Asset retirement obligation - current |
195 |
|
|
— |
|
|
— |
|
|
— |
|
|
195 |
|
Derivative instruments |
119,219 |
|
|
— |
|
|
— |
|
|
— |
|
|
119,219 |
|
Current maturities of long-term debt |
276 |
|
|
— |
|
|
— |
|
|
— |
|
|
276 |
|
Total current liabilities |
406,858 |
|
|
466,321 |
|
|
126 |
|
|
(488,491 |
) |
|
384,814 |
|
|
|
|
|
|
|
|
|
|
|
Long-term derivative instrument |
26,759 |
|
|
— |
|
|
— |
|
|
— |
|
|
26,759 |
|
Asset retirement obligation - long-term |
34,081 |
|
|
— |
|
|
— |
|
|
— |
|
|
34,081 |
|
Long-term debt, net of current maturities |
1,593,599 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,593,599 |
|
Total liabilities |
2,061,297 |
|
|
466,321 |
|
|
126 |
|
|
(488,491 |
) |
|
2,039,253 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock |
1,588 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,588 |
|
Paid-in capital |
3,946,442 |
|
|
33,822 |
|
|
257,026 |
|
|
(290,848 |
) |
|
3,946,442 |
|
Accumulated other comprehensive (loss) income |
(53,058 |
) |
|
— |
|
|
(50,931 |
) |
|
50,931 |
|
|
(53,058 |
) |
Retained (deficit) earnings |
(1,711,080 |
) |
|
(6,971 |
) |
|
(161,008 |
) |
|
167,979 |
|
|
(1,711,080 |
) |
Total stockholders’ equity |
2,183,892 |
|
|
26,851 |
|
|
45,087 |
|
|
(71,938 |
) |
|
2,183,892 |
|
Total liabilities and stockholders’ equity
|
$ |
4,245,189 |
|
|
$ |
493,172 |
|
|
$ |
45,213 |
|
|
$ |
(560,429 |
) |
|
$ |
4,223,145 |
|
|
| Condensed Consolidating Statements of Operations |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
249,353 |
|
|
$ |
74,600 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
323,953 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
16,423 |
|
|
4,298 |
|
|
— |
|
|
— |
|
|
20,721 |
|
Production taxes |
3,645 |
|
|
1,494 |
|
|
— |
|
|
— |
|
|
5,139 |
|
Midstream gathering and processing |
42,291 |
|
|
16,654 |
|
|
— |
|
|
— |
|
|
58,945 |
|
Depreciation, depletion, and amortization |
82,245 |
|
|
1 |
|
|
— |
|
|
— |
|
|
82,246 |
|
General and administrative |
13,052 |
|
|
(796 |
) |
|
1 |
|
|
— |
|
|
12,257 |
|
Accretion expense |
291 |
|
|
119 |
|
|
— |
|
|
— |
|
|
410 |
|
Acquisition expense |
5 |
|
|
1,055 |
|
|
— |
|
|
— |
|
|
1,060 |
|
|
157,952 |
|
|
22,825 |
|
|
1 |
|
|
— |
|
|
180,778 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
91,401 |
|
|
51,775 |
|
|
(1 |
) |
|
— |
|
|
143,175 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
26,133 |
|
|
(1,945 |
) |
|
— |
|
|
— |
|
|
24,188 |
|
Interest income |
(42 |
) |
|
(6 |
) |
|
— |
|
|
— |
|
|
(48 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(40,475 |
) |
|
(83 |
) |
|
208 |
|
|
53,651 |
|
|
13,301 |
|
Other income |
(151 |
) |
|
(51 |
) |
|
— |
|
|
— |
|
|
(202 |
) |
|
(14,535 |
) |
|
(2,085 |
) |
|
208 |
|
|
53,651 |
|
|
37,239 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
105,936 |
|
|
53,860 |
|
|
(209 |
) |
|
(53,651 |
) |
|
105,936 |
|
INCOME TAX EXPENSE |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
105,936 |
|
|
$ |
53,860 |
|
|
$ |
(209 |
) |
|
$ |
(53,651 |
) |
|
$ |
105,936 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
(28,580 |
) |
|
$ |
421 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(28,159 |
) |
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
14,491 |
|
|
170 |
|
|
— |
|
|
— |
|
|
14,661 |
|
Production taxes |
2,828 |
|
|
28 |
|
|
— |
|
|
— |
|
|
2,856 |
|
Midstream gathering and processing |
39,242 |
|
|
107 |
|
|
— |
|
|
— |
|
|
39,349 |
|
Depreciation, depletion, and amortization |
55,651 |
|
|
1 |
|
|
— |
|
|
— |
|
|
55,652 |
|
Impairment of oil and natural gas properties |
170,621 |
|
|
— |
|
|
— |
|
|
— |
|
|
170,621 |
|
General and administrative |
11,846 |
|
|
8 |
|
|
— |
|
|
— |
|
|
11,854 |
|
Accretion expense |
261 |
|
|
— |
|
|
— |
|
|
— |
|
|
261 |
|
|
294,940 |
|
|
314 |
|
|
— |
|
|
— |
|
|
295,254 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS |
(323,520 |
) |
|
107 |
|
|
— |
|
|
— |
|
|
(323,413 |
) |
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
16,082 |
|
|
— |
|
|
— |
|
|
— |
|
|
16,082 |
|
Interest income |
(391 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(391 |
) |
Loss (income) from equity method investments and investments in subsidiaries |
722 |
|
|
59 |
|
|
762 |
|
|
(707 |
) |
|
836 |
|
Other income |
— |
|
|
(7 |
) |
|
— |
|
|
— |
|
|
(7 |
) |
|
16,413 |
|
|
52 |
|
|
762 |
|
|
(707 |
) |
|
16,520 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME BEFORE INCOME TAXES |
(339,933 |
) |
|
55 |
|
|
(762 |
) |
|
707 |
|
|
(339,933 |
) |
INCOME TAX BENEFIT |
(157 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(157 |
) |
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME |
$ |
(339,776 |
) |
|
$ |
55 |
|
|
$ |
(762 |
) |
|
$ |
707 |
|
|
$ |
(339,776 |
) |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
521,794 |
|
|
$ |
135,163 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
656,957 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
33,872 |
|
|
6,152 |
|
|
— |
|
|
— |
|
|
40,024 |
|
Production taxes |
6,747 |
|
|
2,298 |
|
|
— |
|
|
— |
|
|
9,045 |
|
Midstream gathering and processing |
80,015 |
|
|
26,871 |
|
|
— |
|
|
— |
|
|
106,886 |
|
Depreciation, depletion, and amortization |
148,235 |
|
|
2 |
|
|
— |
|
|
— |
|
|
148,237 |
|
General and administrative |
25,926 |
|
|
(1,071 |
) |
|
2 |
|
|
— |
|
|
24,857 |
|
Accretion expense |
573 |
|
|
119 |
|
|
— |
|
|
— |
|
|
692 |
|
Acquisition expense |
5 |
|
|
2,353 |
|
|
— |
|
|
— |
|
|
2,358 |
|
|
295,373 |
|
|
36,724 |
|
|
2 |
|
|
— |
|
|
332,099 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
226,421 |
|
|
98,439 |
|
|
(2 |
) |
|
— |
|
|
324,858 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
51,181 |
|
|
(3,514 |
) |
|
— |
|
|
— |
|
|
47,667 |
|
Interest income |
(884 |
) |
|
(6 |
) |
|
— |
|
|
— |
|
|
(890 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(83,089 |
) |
|
2,458 |
|
|
573 |
|
|
98,266 |
|
|
18,208 |
|
Other (income) expense |
(1,178 |
) |
|
(240 |
) |
|
— |
|
|
900 |
|
|
(518 |
) |
|
(33,970 |
) |
|
(1,302 |
) |
|
573 |
|
|
99,166 |
|
|
64,467 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
260,391 |
|
|
99,741 |
|
|
(575 |
) |
|
(99,166 |
) |
|
260,391 |
|
INCOME TAX BENEFIT |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
260,391 |
|
|
$ |
99,741 |
|
|
$ |
(575 |
) |
|
$ |
(99,166 |
) |
|
$ |
260,391 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
128,171 |
|
|
$ |
631 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
128,802 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
30,963 |
|
|
355 |
|
|
— |
|
|
— |
|
|
31,318 |
|
Production taxes |
5,915 |
|
|
52 |
|
|
— |
|
|
— |
|
|
5,967 |
|
Midstream gathering and processing |
76,865 |
|
|
136 |
|
|
— |
|
|
— |
|
|
77,001 |
|
Depreciation, depletion, and amortization |
121,127 |
|
|
2 |
|
|
|
|
|
|
|
|
121,129 |
|
Impairment of oil and natural gas properties |
389,612 |
|
|
— |
|
|
— |
|
|
— |
|
|
389,612 |
|
General and administrative |
22,458 |
|
|
14 |
|
|
2 |
|
|
— |
|
|
22,474 |
|
Accretion expense |
508 |
|
|
— |
|
|
— |
|
|
— |
|
|
508 |
|
|
647,448 |
|
|
559 |
|
|
2 |
|
|
— |
|
|
648,009 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS |
(519,277 |
) |
|
72 |
|
|
(2 |
) |
|
— |
|
|
(519,207 |
) |
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
32,104 |
|
|
1 |
|
|
— |
|
|
— |
|
|
32,105 |
|
Interest income |
(485 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(485 |
) |
Loss (income) from equity method investments and investments in subsidiaries |
31,495 |
|
|
59 |
|
|
24,447 |
|
|
(24,428 |
) |
|
31,573 |
|
Other income |
— |
|
|
(9 |
) |
|
— |
|
|
— |
|
|
(9 |
) |
|
63,114 |
|
|
51 |
|
|
24,447 |
|
|
(24,428 |
) |
|
63,184 |
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME BEFORE INCOME TAXES |
(582,391 |
) |
|
21 |
|
|
(24,449 |
) |
|
24,428 |
|
|
(582,391 |
) |
INCOME TAX BENEFIT |
(348 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(348 |
) |
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME |
$ |
(582,043 |
) |
|
$ |
21 |
|
|
$ |
(24,449 |
) |
|
$ |
24,428 |
|
|
$ |
(582,043 |
) |
|
| Condensed Consolidating Statements of Comprehensive Income (Loss) |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
105,936 |
|
|
$ |
53,860 |
|
|
$ |
(209 |
) |
|
$ |
(53,651 |
) |
|
$ |
105,936 |
|
Foreign currency translation adjustment |
4,514 |
|
|
19 |
|
|
4,495 |
|
|
(4,514 |
) |
|
4,514 |
|
Other comprehensive income (loss) |
4,514 |
|
|
19 |
|
|
4,495 |
|
|
(4,514 |
) |
|
4,514 |
|
Comprehensive income (loss) |
$ |
110,450 |
|
|
$ |
53,879 |
|
|
$ |
4,286 |
|
|
$ |
(58,165 |
) |
|
$ |
110,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
$ |
(339,776 |
) |
|
$ |
55 |
|
|
$ |
(762 |
) |
|
$ |
707 |
|
|
$ |
(339,776 |
) |
Foreign currency translation adjustment |
(684 |
) |
|
— |
|
|
(604 |
) |
|
604 |
|
|
(684 |
) |
Other comprehensive (loss) income |
(684 |
) |
|
— |
|
|
(604 |
) |
|
604 |
|
|
(684 |
) |
Comprehensive (loss) income |
$ |
(340,460 |
) |
|
$ |
55 |
|
|
$ |
(1,366 |
) |
|
$ |
1,311 |
|
|
$ |
(340,460 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
260,391 |
|
|
$ |
99,741 |
|
|
$ |
(575 |
) |
|
$ |
(99,166 |
) |
|
$ |
260,391 |
|
Foreign currency translation adjustment |
5,887 |
|
|
74 |
|
|
5,813 |
|
|
(5,887 |
) |
|
5,887 |
|
Other comprehensive income (loss) |
5,887 |
|
|
74 |
|
|
5,813 |
|
|
(5,887 |
) |
|
5,887 |
|
Comprehensive income (loss) |
$ |
266,278 |
|
|
$ |
99,815 |
|
|
$ |
5,238 |
|
|
$ |
(105,053 |
) |
|
$ |
266,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
Net (loss) income |
$ |
(582,043 |
) |
|
$ |
21 |
|
|
$ |
(24,449 |
) |
|
$ |
24,428 |
|
|
$ |
(582,043 |
) |
Foreign currency translation adjustment |
8,374 |
|
|
— |
|
|
9,669 |
|
|
(9,669 |
) |
|
8,374 |
|
Other comprehensive income (loss) |
8,374 |
|
|
— |
|
|
9,669 |
|
|
(9,669 |
) |
|
8,374 |
|
Comprehensive (loss) income |
$ |
(573,669 |
) |
|
$ |
21 |
|
|
$ |
(14,780 |
) |
|
$ |
14,759 |
|
|
$ |
(573,669 |
) |
|
| Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2017 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
268,068 |
|
|
$ |
18,585 |
|
|
$ |
1 |
|
|
$ |
(1 |
) |
|
$ |
286,653 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(1,669,539 |
) |
|
(1,362,222 |
) |
|
(1,151 |
) |
|
1,388,288 |
|
|
(1,644,624 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
199,651 |
|
|
1,387,137 |
|
|
1,150 |
|
|
(1,388,287 |
) |
|
199,651 |
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash equivalents |
(1,201,820 |
) |
|
43,500 |
|
|
— |
|
|
— |
|
|
(1,158,320 |
) |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
1,273,882 |
|
|
1,993 |
|
|
— |
|
|
— |
|
|
1,275,875 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
72,062 |
|
|
$ |
45,493 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
117,555 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2016 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
142,470 |
|
|
$ |
254 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
142,724 |
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by investing activities |
(281,044 |
) |
|
(25,500 |
) |
|
(13,690 |
) |
|
39,190 |
|
|
(281,044 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
421,783 |
|
|
25,500 |
|
|
13,690 |
|
|
(39,190 |
) |
|
421,783 |
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
283,209 |
|
|
254 |
|
|
— |
|
|
— |
|
|
283,463 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
112,494 |
|
|
479 |
|
|
1 |
|
|
— |
|
|
112,974 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
395,703 |
|
|
$ |
733 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
396,437 |
|
|