Quarterly report pursuant to Section 13 or 15(d)

Reportable Segment Information - (Tables)

v3.20.2
Reportable Segment Information - (Tables)
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Reconciliation of Segment Information A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below ($ in thousands):
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2020
 
 
Pressure Pumping
 
All Other
 
Total
Service revenue
 
$
386,919

 
$
8,150

 
$
395,069

Adjusted EBITDA
 
$
78,664

 
$
(3,741
)
 
$
74,923

Depreciation and amortization
 
$
38,969

 
$
1,236

 
$
40,205

Capital expenditures
 
$
39,268

 
$
828

 
$
40,096

Total assets at March 31, 2020
 
$
1,347,189

 
$
52,701

 
$
1,399,890

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2019
 
 
Pressure Pumping
 
All Other
 
Total
Service revenue
 
$
532,064

 
$
14,115

 
$
546,179

Adjusted EBITDA
 
$
151,040

 
$
(765
)
 
$
150,275

Depreciation and amortization
 
$
31,783

 
$
1,334

 
$
33,117

Goodwill at December 31, 2019
 
$
9,425

 
$

 
$
9,425

Capital expenditures
 
$
82,035

 
$
4,112

 
$
86,147

Total assets at December 31, 2019
 
$
1,381,811

 
$
54,300

 
$
1,436,111


Reconciliation of net income (loss) to adjusted EBITDA ($ in thousands):
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2020
 
 
Pressure Pumping
 
All Other
 
Total
Net income (loss)
 
$
4,308

 
$
(12,112
)
 
$
(7,804
)
Depreciation and amortization
 
38,969

 
1,236

 
40,205

Impairment expense
 
15,559

 
1,095

 
16,654

Interest expense
 
1

 
1,280

 
1,281

Income tax expense
 

 
(909
)
 
(909
)
Loss on disposal of assets
 
19,815

 
39

 
19,854

Stock-based compensation
 

 
471

 
471

Other expense
 

 
3

 
3

Other general and administrative expense(1)
 

 
5,135

 
5,135

Retention bonus and severance expense
 
12

 
21

 
33

Adjusted EBITDA
 
$
78,664

 
$
(3,741
)
 
$
74,923

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2019
 
 
Pressure Pumping
 
All Other
 
Total
Net income (loss)
 
$
98,094

 
$
(28,289
)
 
$
69,805

Depreciation and amortization
 
31,783

 
1,334

 
33,117

Interest expense
 

 
1,903

 
1,903

Income tax expense
 

 
21,892

 
21,892

Loss on disposal of assets
 
19,006

 
222

 
19,228

Stock-based compensation
 

 
1,829

 
1,829

Other expense
 

 
187

 
187

Deferred IPO bonus expense
 
2,157

 
157

 
2,314

Adjusted EBITDA
 
$
151,040

 
$
(765
)
 
$
150,275


 
(1)
Other general and administrative expense relates to nonrecurring professional fees paid to external consultants in connection with the Company's expanded audit committee review.