← Helmerich & Payne, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($56.8m) | ($128.2m) | $482.7m | ($33.7m) | ($494.5m) | ($326.1m) | $7.0m | $434.1m | $344.2m | ($163.7m) | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($58.7m) | ($130.0m) | $478.3m | ($36.8m) | ($497.1m) | ($327.5m) | $5.4m | $428.2m | $339.4m | ($165.1m) | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | ($128.2m) | $482.7m | — | — | — | — | — | — | ($159.9m) | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | ($53.0m) | ($127.9m) | $493.0m | ($32.5m) | ($496.4m) | ($337.5m) | $6.6m | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($3.8m) | ($349k) | ($10.3m) | ($1.1m) | $1.9m | $11.3m | $401k | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | — | $3.7m | |
| Depreciation, Depletion and Amortization | $598.6m | $585.5m | $583.8m | $562.8m | $481.9m | $419.7m | $403.2m | $382.3m | $397.3m | $625.1m | |
| Amortization of Debt Issuance Costs | $1.2m | — | — | — | — | — | — | — | — | — | |
| Amortization of Debt Issuance Costs and Discounts | — | $1.1m | $1.1m | $1.7m | $1.8m | $1.4m | $1.2m | $1.1m | $10.6m | $6.1m | |
| Amortization of Intangible Assets | — | $1.1m | $5.4m | $5.8m | $7.2m | $7.2m | $7.2m | $6.6m | $6.4m | $50.6m | |
| Depreciation | $598.6m | $585.5m | $583.8m | $556.9m | $474.7m | $412.5m | $396.0m | $375.7m | $390.9m | $574.5m | |
| Amortization of debt discount and debt issuance costs | $1.2m | $1.1m | $1.1m | $1.7m | $1.8m | $1.4m | $1.2m | $1.1m | $10.6m | $6.1m | |
| Deferred Income Tax Expense (Benefit) | $60.1m | ($24.1m) | ($486.8m) | ($44.6m) | ($157.6m) | ($89.8m) | ($28.5m) | ($20.4m) | ($23.2m) | ($78.7m) | |
| Deferred income tax benefit | $60.1m | ($24.1m) | ($486.8m) | ($44.6m) | ($157.6m) | ($89.8m) | ($28.5m) | ($20.4m) | ($23.2m) | ($78.7m) | |
| Share-based Payment Arrangement, Noncash Expense | $24.4m | $26.2m | $31.7m | $34.3m | $36.3m | $27.9m | $28.0m | $32.5m | $31.2m | $31.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $3.9m | $5.8m | $7.1m | $6.4m | $3.8m | $2.2m | $5.5m | $14.4m | $12.2m | $10.8m | |
| Share-based Payment Arrangement, Expense | $24.4m | $26.2m | $31.7m | $34.3m | $36.3m | $27.9m | $28.0m | $32.5m | $31.2m | $31.6m | |
| Goodwill, Impairment Loss | — | $0 | $4.7m | — | $38.3m | — | $0 | $0 | $0 | $192.2m | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | $0 | — | — | — | — | — | — | — | — | |
| Asset impairment charges | $6.2m | $0 | $23.1m | $224.3m | $563.2m | $70.8m | $4.4m | $12.1m | $0 | $194.0m | |
| Gain (Loss) on Disposition of Assets | $9.9m | $20.6m | $22.7m | $39.7m | $46.8m | $1.0m | $5.4m | ($8.0m) | ($5.1m) | ($1.5m) | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | — | ($60.1m) | $0 | $0 | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | $22.7m | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | ($19.7m) | ($56.7m) | ($477.2m) | ($18.7m) | ($140.1m) | ($103.7m) | $24.4m | $159.3m | $136.9m | $85.8m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $29.1m | $107.8m | |
| Operating Lease, Expense | — | — | — | — | $18.6m | $17.3m | $11.2m | $12.4m | — | — | |
| Other Nonoperating Income (Expense) | ($965k) | $1.8m | $486k | ($1.6m) | ($5.4m) | ($5.7m) | ($11.1m) | $9.1m | $3.1m | $27.2m | |
| Gain on reimbursement of drilling equipment | — | — | — | — | ($27.0m) | ($12.3m) | ($29.4m) | ($48.2m) | ($33.3m) | ($33.4m) | |
| Payments for operating leases | — | — | — | $0 | $18.6m | $17.3m | $11.2m | $12.4m | $13.3m | $56.6m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($72.8m) | $97.1m | $85.2m | ($70.3m) | ($300.8m) | $28.4m | $235.6m | ($56.3m) | $10.7m | $48.6m | |
| Increase (Decrease) in Inventories | ($1.9m) | $10.6m | $22.4m | ($1.8m) | ($7.2m) | ($19.8m) | $5.2m | $7.8m | $20.8m | $26.9m | |
| Increase (Decrease) in Accounts Payable | ($10.9m) | $39.4m | ($4.5m) | ($9.1m) | ($9.4m) | $31.0m | $53.2m | $4.2m | ($2.3m) | ($21.3m) | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | — | — | ($8.7m) | $6.7m | $47.4m | $27.4m | $30.9m | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($9.3m) | ($7.1m) | ($4.0m) | ($8.2m) | ($8.8m) | ($5.3m) | ($5.9m) | ($6.4m) | ($5.5m) | ($9.7m) | |
| Gain (Loss) on Investments | ($26.0m) | — | $1k | ($54.5m) | ($8.7m) | $6.7m | $57.9m | $11.3m | $14.0m | ($22.4m) | |
| General and Administrative Expense | $146.2m | $151.0m | — | — | — | — | — | — | — | — | |
| Goodwill | — | $51.7m | $64.8m | $82.8m | $45.7m | $45.7m | $45.7m | $45.7m | $45.7m | $182.9m | |
| Nonoperating Income (Expense) | ($46.7m) | ($12.1m) | ($15.8m) | ($71.8m) | ($16.3m) | ($12.6m) | ($14.4m) | $31.5m | $29.1m | ($77.4m) | |
| Pension Expense (Reversal of Expense), Noncash | — | — | — | $2.0m | — | — | — | — | — | — | |
| Proceeds from Stock Options Exercised | $1.0m | $10.5m | $6.4m | $3.1m | $4.1m | $0 | $0 | — | — | — | |
| Restructuring Costs | — | — | — | — | $16.0m | $5.9m | $838k | $0 | $0 | $12.1m | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | — | ($4.2m) | $1.6m | $5.0m | |
| Stock-based compensation | $24.4m | $26.2m | $31.7m | $34.3m | $36.3m | $27.9m | $28.0m | $32.5m | $31.2m | $31.6m | |
| (Gain) loss on investment securities | $26.0m | $0 | ($1k) | $54.5m | $8.7m | ($6.7m) | ($57.9m) | ($11.3m) | ($14.0m) | $22.4m | |
| Other loss on sale of assets | ($9.9m) | ($20.6m) | ($22.7m) | ($39.7m) | ($46.8m) | ($1.0m) | ($5.4m) | $8.0m | $5.1m | $1.5m | |
| Other | $151k | $543k | $6.7m | ($5.2m) | ($446k) | ($719k) | ($587k) | ($540k) | $0 | ($3.8m) | |
| Accounts receivable | $72.8m | ($97.1m) | ($85.2m) | $70.3m | $300.8m | ($28.4m) | ($235.6m) | $56.3m | ($10.7m) | ($48.6m) | |
| Inventories of materials and supplies | $1.9m | ($10.6m) | ($22.4m) | $1.8m | $7.2m | $19.8m | ($5.2m) | ($7.8m) | ($20.8m) | ($26.9m) | |
| Prepaid expenses and other | ($2.5m) | $31.4m | ($955k) | ($176k) | ($5.5m) | ($21.4m) | $6.2m | ($1.8m) | $3.4m | $41.5m | |
| Other noncurrent assets | — | $11.6m | $5.6m | ($10.4m) | $2.8m | $2.8m | $2.6m | ($11.1m) | ($20.7m) | ($11.5m) | |
| Accounts payable | ($10.9m) | $39.4m | ($4.5m) | ($9.1m) | ($9.4m) | $31.0m | $53.2m | $4.2m | ($2.3m) | ($21.3m) | |
| Accrued liabilities | $49.6m | ($36.1m) | $33.2m | $40.9m | ($138.4m) | $34.0m | $45.1m | ($10.1m) | $16.8m | ($74.6m) | |
| Other noncurrent liabilities | ($16.8m) | ($13.1m) | ($10.8m) | $2.3m | $2.2m | ($1.3m) | ($22.5m) | $5.6m | ($4.1m) | $61.6m | |
| Insurance proceeds from involuntary conversion | — | — | — | — | — | $0 | $0 | $9.2m | $5.5m | $2.4m | |
| Proceeds from asset sales | $21.8m | $23.4m | $44.4m | $50.8m | $78.4m | $43.5m | $62.3m | $70.1m | $46.4m | $45.8m | |
| Distributions to non-controlling interests | — | — | — | — | — | — | — | $0 | $0 | ($15.4m) | |
| Payments for employee taxes on net settlement of equity awards | ($3.9m) | ($5.8m) | ($7.1m) | ($6.4m) | ($3.8m) | ($2.2m) | ($5.5m) | ($14.4m) | ($12.2m) | ($10.8m) | |
| Payment of contingent consideration from acquisition of business | — | $0 | ($10.6m) | $0 | ($8.2m) | ($7.2m) | ($250k) | ($250k) | ($6.2m) | $0 | |
| Share repurchases | — | $0 | $0 | ($42.8m) | ($28.5m) | $0 | ($77.0m) | ($247.2m) | ($51.3m) | $0 | |
| Income tax received | — | — | — | — | — | ($33.9m) | ($62k) | ($26.8m) | ($1.2m) | ($201k) | |
| Changes in accounts payable and accrued liabilities related to purchases of property, plant and equipment | $15.9m | ($10.5m) | ($2.2m) | $17.8m | $3.1m | ($1.5m) | ($2.4m) | ($2.6m) | ($20.5m) | $11.8m | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | ($1.6m) | ($913k) | ($2.0m) | ($3.0m) | ($3.4m) | ($9.0m) | $0 | $0 | — | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | ($5.0m) | ($1.6m) | ($913k) | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $753.6m | $357.2m | $544.5m | $855.8m | $538.9m | $136.4m | $233.9m | $833.7m | $684.7m | $543.0m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $257.2m | $397.6m | $466.6m | $458.4m | $140.8m | $82.1m | $250.9m | $395.5m | $495.1m | $426.4m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $70.4m | $47.9m | $16.2m | $0 | $0 | — | — | — | $1.8b | |
| Payment for acquisition of business, net of cash acquired | — | ($70.4m) | ($47.9m) | ($16.2m) | $0 | $0 | — | $0 | $0 | ($1.8b) | |
| Purchase of short-term investments | ($57.3m) | ($69.9m) | ($71.0m) | ($97.7m) | ($134.6m) | ($417.6m) | ($165.1m) | ($181.0m) | ($200.7m) | ($117.1m) | |
| Purchase of long-term investments | — | — | — | — | ($550k) | ($102.5m) | ($51.2m) | ($20.7m) | ($9.1m) | ($3.3m) | |
| Proceeds from sale of short-term investments | $58.4m | $69.4m | $68.8m | $86.8m | $94.6m | $207.7m | $244.7m | $195.3m | $204.2m | $378.4m | |
| Proceeds from sale of long-term investments | — | — | — | — | $0 | $0 | $22.0m | $0 | $0 | $32.0m | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | $550k | $0 | $7.5m | $0 | $10.0m | $1.0m | |
| Net Cash Provided by (Used in) Investing Activities | ($234.2m) | ($445.0m) | ($472.4m) | ($422.6m) | ($87.9m) | ($162.0m) | ($167.3m) | ($322.6m) | ($458.7m) | ($1.9b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from debt issuance | — | — | — | $0 | $0 | $548.7m | $0 | $0 | $1.2b | $400.0m | |
| Debt issuance costs | ($1.1m) | $0 | $0 | ($3.9m) | $0 | ($3.9m) | $0 | $0 | ($22.9m) | ($2.6m) | |
| Repayments of Long-term Debt | $40.0m | — | — | — | — | — | — | — | — | — | |
| Payments on unsecured long-term debt | — | $0 | $0 | ($12.9m) | $0 | $0 | ($487.1m) | $0 | $0 | ($200.0m) | |
| Payments of Ordinary Dividends, Common Stock | $300 | $306 | $308 | $313 | $260 | $109 | $107 | $201 | $168 | $101 | |
| Dividends Payable, Current | — | — | — | — | $27 | $27 | $27 | $25 | $25 | $25 | |
| Dividends paid | ($300) | ($306) | ($308) | ($313) | ($260) | ($109) | ($107) | ($201) | ($168) | ($101) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | ($446k) | ($719k) | ($587k) | ($540k) | $0 | ($3.8m) | |
| Net Cash Provided by (Used in) Financing Activities | ($343.2m) | ($296.4m) | ($309.2m) | ($376.3m) | ($297.2m) | $425.5m | ($734.3m) | ($463.9m) | $986.5m | $66.7m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | — | — | — | $13.0m | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | — | — | — | — | — | — | — | $0 | $0 | $13.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $56.8m | $153.8m | $400.0m | ($667.7m) | $47.2m | $1.2b | ($1.3b) | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | — | ($374.6m) | ($234.3m) | $56.8m | $153.8m | $400.0m | ($667.7m) | $47.2m | $1.2b | ($1.3b) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $383.0m | $536.7m | $936.7m | $269.0m | $316.2m | $1.5b | $225.9m | |
| Cash, Cash Equivalents, and Short-term Investments | — | — | — | — | $577.2m | $1.1b | — | — | — | — | |
| Cash and cash equivalents and restricted cash, beginning of period | — | $560.5m | $326.2m | $383.0m | $536.7m | $936.7m | $269.0m | $316.2m | $1.5b | $225.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $28.0m | $22.9m | $20.5m | $26.7m | $22.9m | $26.7m | $18.9m | $17.1m | $15.9m | $82.3m | |
| Income Taxes Paid, Net | — | $3.7m | ($38.4m) | $16.2m | $46.7m | ($32.5m) | $17.7m | $199.1m | $181.3m | $205.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.