C&J Energy Services, Inc.

CIK:0001509273|SEC Filings

Note 1 - Organization, Nature of Business and Summary of Significant Accounting Policies (Details) - Earnings (Loss) Per Share (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Numerator:
Net income attributed to common shareholders (in Dollars)	$ 22,311us-gaap_NetIncomeLoss	$ 23,816us-gaap_NetIncomeLoss	$ 11,108us-gaap_NetIncomeLoss	$ 11,588us-gaap_NetIncomeLoss	$ 7,290us-gaap_NetIncomeLoss	$ 13,125us-gaap_NetIncomeLoss	$ 20,847us-gaap_NetIncomeLoss	$ 25,143us-gaap_NetIncomeLoss	$ 68,823us-gaap_NetIncomeLoss	$ 66,405us-gaap_NetIncomeLoss	$ 182,350us-gaap_NetIncomeLoss
Denominator:
Weighted average common shares outstanding - basic									53,838	53,038	52,008
Effect of potentially dilutive securities:
Weighted average common shares outstanding - diluted									56,513	55,367	54,039
Earnings per common share:
Basic (in Dollars per share)	$ 0.41us-gaap_EarningsPerShareBasic	$ 0.44us-gaap_EarningsPerShareBasic	$ 0.21us-gaap_EarningsPerShareBasic	$ 0.22us-gaap_EarningsPerShareBasic	$ 0.14us-gaap_EarningsPerShareBasic	$ 0.25us-gaap_EarningsPerShareBasic	$ 0.39us-gaap_EarningsPerShareBasic	$ 0.48us-gaap_EarningsPerShareBasic	$ 1.28us-gaap_EarningsPerShareBasic	$ 1.25us-gaap_EarningsPerShareBasic	$ 3.51us-gaap_EarningsPerShareBasic
Diluted (in Dollars per share)	$ 0.40us-gaap_EarningsPerShareDiluted	$ 0.42us-gaap_EarningsPerShareDiluted	$ 0.20us-gaap_EarningsPerShareDiluted	$ 0.21us-gaap_EarningsPerShareDiluted	$ 0.13us-gaap_EarningsPerShareDiluted	$ 0.24us-gaap_EarningsPerShareDiluted	$ 0.38us-gaap_EarningsPerShareDiluted	$ 0.46us-gaap_EarningsPerShareDiluted	$ 1.22us-gaap_EarningsPerShareDiluted	$ 1.20us-gaap_EarningsPerShareDiluted	$ 3.37us-gaap_EarningsPerShareDiluted
Employee Stock Option [Member]
Effect of potentially dilutive securities:
Potentially dilutive common shares									2,245	2,096	1,979
Restricted Stock [Member]
Effect of potentially dilutive securities:
Potentially dilutive common shares									430	233	52

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 68,823us-gaap_NetIncomeLoss	$ 66,405us-gaap_NetIncomeLoss	$ 182,350us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	108,145	74,703	46,912
Deferred income taxes	33,185us-gaap_DeferredIncomeTaxExpenseBenefit	16,513us-gaap_DeferredIncomeTaxExpenseBenefit	15,926us-gaap_DeferredIncomeTaxExpenseBenefit
Provision for doubtful accounts, net of write-offs	600us-gaap_ProvisionForDoubtfulAccounts	689us-gaap_ProvisionForDoubtfulAccounts	600us-gaap_ProvisionForDoubtfulAccounts
Equity (earnings) loss from unconsolidated affiliate	(471)	160
(Gain) Loss on disposal of assets	(17)	527	692
Stock-based compensation expense	18,350us-gaap_ShareBasedCompensation	22,581us-gaap_ShareBasedCompensation	18,012us-gaap_ShareBasedCompensation
Amortization of deferred financing costs	1,168us-gaap_AmortizationOfFinancingCosts	1,160us-gaap_AmortizationOfFinancingCosts	923us-gaap_AmortizationOfFinancingCosts
Inventory write-down		870us-gaap_InventoryWriteDown
Changes in operating assets and liabilities:
Accounts receivable	(135,784)	14,704	(10,621)
Inventories	(50,001)us-gaap_IncreaseDecreaseInInventories	(10,495)us-gaap_IncreaseDecreaseInInventories	(11,263)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets	(12,154)	(12,405)	7,107
Accounts payable	132,420	11,991	(1,195)
Payroll and related costs and accrued expenses	14,157	2,710	5,373
Income taxes payable	(301)	(3,888)	1,765
Other	3,717	(5,124)	(2,651)
Net cash provided by operating activities	181,837	181,101	253,930
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment	(307,598)	(151,810)	(181,426)
Proceeds from disposal of property, plant and equipment	719	1,151	434
Payments made for business acquisitions, net of cash acquired	(33,533)	(14,636)	(273,401)
Investment in unconsolidated subsidiary	(3,000)		(3,000)
Net cash used in investing activities	(343,412)	(165,295)	(457,393)
Cash flows from financing activities:
Proceeds from revolving debt	229,000	60,000	245,000
Payments on revolving debt	(64,000)	(80,306)	(75,000)
Payments of long-term debt		(638)us-gaap_RepaymentsOfLongTermDebt
Payments of capital lease obligations	(4,165)	(2,184)	(1,121)
Financing costs	(2,265)us-gaap_PaymentsOfFinancingCosts		(2,243)us-gaap_PaymentsOfFinancingCosts
Proceeds from stock options exercised	833	5,219	2,573
Employee tax withholding on restricted stock vesting	(4,378)	(1,375)
Excess tax benefit from stock-based award activity	2,153	3,450	1,916
Net cash provided by (used in) financing activities	157,178	(15,834)	171,125
Net decrease in cash and cash equivalents	(4,397)	(28)	(32,338)
Cash and cash equivalents, beginning of year	14,414	14,442	46,780
Cash and cash equivalents, end of year	10,017	14,414	14,442
Supplemental cash flow disclosures:
Cash paid for interest	8,525us-gaap_InterestPaid	5,473us-gaap_InterestPaid	3,975us-gaap_InterestPaid
Cash paid for income taxes	16,125us-gaap_IncomeTaxesPaidNet	38,819us-gaap_IncomeTaxesPaidNet	75,619us-gaap_IncomeTaxesPaidNet
Non-cash investing and financing activity:
Capital lease obligations	25,847us-gaap_CapitalLeaseObligationsIncurred	13,487us-gaap_CapitalLeaseObligationsIncurred
Change in accrued capital expenditures	8,120	6,177	753
Non-cash consideration for business acquisition		$ 2,556

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 10,017	$ 14,414
Accounts receivable, net	290,767us-gaap_AccountsReceivableNetCurrent	152,696us-gaap_AccountsReceivableNetCurrent
Inventories, net	122,172us-gaap_InventoryNet	70,946us-gaap_InventoryNet
Prepaid and other current assets	29,525	17,066
Deferred tax assets	8,106us-gaap_DeferredTaxAssetsNetCurrent	1,722us-gaap_DeferredTaxAssetsNetCurrent
Total current assets	460,587us-gaap_AssetsCurrent	256,844us-gaap_AssetsCurrent
Property, plant and equipment, net	783,302us-gaap_PropertyPlantAndEquipmentNet	535,574us-gaap_PropertyPlantAndEquipmentNet
Other assets:
Goodwill	219,953us-gaap_Goodwill	205,798us-gaap_Goodwill
Intangible assets, net	129,468	123,038
Deposits on equipment under construction	7,117us-gaap_DepositAssets	4,331us-gaap_DepositAssets
Deferred financing costs, net	3,786	2,688
Other noncurrent assets	8,533us-gaap_OtherAssetsNoncurrent	4,027us-gaap_OtherAssetsNoncurrent
Total assets	1,612,746us-gaap_Assets	1,132,300us-gaap_Assets
Current liabilities:
Accounts payable	229,191us-gaap_AccountsPayableCurrent	88,576us-gaap_AccountsPayableCurrent
Accrued payroll and related costs	16,047	13,711
Accrued expenses	30,794us-gaap_AccruedLiabilitiesCurrent	18,619us-gaap_AccruedLiabilitiesCurrent
Income taxes payable		266us-gaap_AccruedIncomeTaxesCurrent
Current capital lease obligations	3,873us-gaap_CapitalLeaseObligationsCurrent	2,860us-gaap_CapitalLeaseObligationsCurrent
Other current liabilities	4,926us-gaap_OtherLiabilitiesCurrent	1,101us-gaap_OtherLiabilitiesCurrent
Total current liabilities	284,831us-gaap_LiabilitiesCurrent	125,133us-gaap_LiabilitiesCurrent
Deferred tax liabilities	193,340	145,215
Long-term debt and capital lease obligations	349,875	164,205
Other long-term liabilities	2,803us-gaap_OtherLiabilitiesNoncurrent	1,596us-gaap_OtherLiabilitiesNoncurrent
Total liabilities	830,849us-gaap_Liabilities	436,149us-gaap_Liabilities
Commitments and contingencies
Stockholders' equity
Common stock, par value of $0.01, 100,000,000 shares authorized, 55,333,392 issued and outstanding at December 31, 2014 and 54,604,124 issued and outstanding at December 31, 2013	553us-gaap_CommonStockValue	546us-gaap_CommonStockValue
Additional paid-in capital	271,104	254,188
Retained earnings	510,240	441,417
Total stockholders' equity	781,897us-gaap_StockholdersEquity	696,151us-gaap_StockholdersEquity
Total liabilities and stockholders' equity	$ 1,612,746	$ 1,132,300