PARKER DRILLING CO /DE/

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (90,248,000)	$ 6,509,000	$ (165,697,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization	25,102,000	61,499,000	107,545,000
(Gain) loss on disposition of assets, net	(384,000)	(226,000)	1,724,000
Deferred tax expense (benefit)	(1,685,000)	5,905,000	(429,000)
Loss on impairment	0	0	50,698,000
Reorganization items	62,470,000	0	7,538,000
Expenses not requiring cash	2,575,000	8,681,000	5,151,000
Change in assets and liabilities:
Accounts receivable	(32,842,000)	1,611,000	(15,235,000)
Rig materials and supplies	0	(6,335,000)	249,000
Other current assets	(6,542,000)	(4,027,000)	(10,860,000)
Other non-current assets	0	(4,805,000)	13,019,000
Accounts payable and accrued liabilities	55,780,000	(4,646,000)	(9,489,000)
Accrued income taxes	688,000	(2,527,000)	(1,264,000)
Net cash provided by (used in) operating activities	14,914,000	61,639,000	(17,050,000)
Cash flows from investing activities:
Capital expenditures	(9,231,000)	(71,107,000)	(70,567,000)
Proceeds from the sale of assets	101,000	792,000	1,353,000
Net cash provided by (used in) investing activities	(9,130,000)	(70,315,000)	(69,214,000)
Cash flows from financing activities:
Payment of term loan	0	(35,158,000)	0
Payments of debt issuance costs	(490,000)	(500,000)	(1,443,000)
Proceeds from rights offering	95,000,000	0	0
Payment of amounts borrowed under debtor in possession facility	(10,000,000)	0	0
Predecessor preferred stock dividend	0	0	(3,625,000)
Shares surrendered in lieu of tax	0	0	(251,000)
Proceeds from borrowing under debtor in possession facility	0	0	10,000,000
Payment of debtor in possession facility costs	0	0	(975,000)
Net cash provided by (used in) financing activities	84,510,000	(35,658,000)	3,706,000
Net increase (decrease) in cash and cash equivalents and restricted cash	90,294,000	(44,334,000)	(82,558,000)
Cash, cash equivalents and restricted cash at beginning of period	58,991,000	149,285,000	141,549,000
Cash, cash equivalents and restricted cash at end of period	$ 149,285,000	$ 104,951,000	$ 58,991,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 104,951	$ 48,602
Restricted cash	0	10,389
Accounts receivable, net	166,456	136,437
Rig materials and supplies	23,267	36,245
Deferred costs	5,223	4,353
Other tax assets	2,949	2,949
Other current assets	17,688	27,929
Total current assets	320,534	266,904
Property, plant, and equipment, net (Note 4)	299,768	534,371
Intangible assets, net (Note 5)	13,675	4,821
Rig materials and supplies	4,766	12,971
Deferred income taxes	4,416	2,143
Other non-current assets	39,689	7,204
Total assets	682,848	828,414
Current Liabilities:
Debtor in possession financing (Note 2)	0	10,000
Accounts payable	55,104	39,678
Accrued liabilities	57,954	35,385
Accrued income taxes	5,058	3,385
Total current liabilities	118,116	88,448
Long-term debt (Note 8)	177,937	0
Other long-term liabilities	25,892	11,544
Long-term deferred tax liability	7,002	510
Commitments and contingencies (Note 11)
Total liabilities not subject to compromise	328,947	100,502
Liabilities subject to compromise (Note 2)	0	600,996
Total liabilities	328,947	701,498
Stockholders’ equity:
Preferred stock		500
Common stock	150	1,398
Capital in excess of par value	347,340	766,347
Accumulated other comprehensive income (loss)	(98)	(6,879)
Retained earnings (accumulated deficit)	6,509	(634,450)
Total stockholders’ equity	353,901	126,916
Total liabilities and stockholders’ equity	$ 682,848	$ 828,414