10-Q Filing

RPC INC CIK: 742278 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-058678`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	res-20200331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 29 Cash Flow Statement 68 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.10M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.15M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.40M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$242.57M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$247.97M	USD	Point-in-time
Inventories	`InventoryNet`	$100.95M	USD	Point-in-time
Inventories	`InventoryNet`	$97.27M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$35.00M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$24.14M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.70M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.46M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$5.38M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$5.38M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.86M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.33M	USD	Point-in-time
Current assets	`AssetsCurrent`	$479.82M	USD	Point-in-time
Current assets	`AssetsCurrent`	$436.86M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$516.73M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$295.26M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$33.85M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$33.25M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$28.65M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$33.63M	USD	Point-in-time
Total assets	`Assets`	$869.13M	USD	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$70.60M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$19.79M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$19.64M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$7.54M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$7.09M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$3.77M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$2.43M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.79M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.53M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$10.21M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$10.62M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$4.91M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$6.49M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$101.40M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$118.18M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$14.04M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$14.87M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$39.25M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$33.21M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$37.32M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.07M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$28.38M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$27.53M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$49.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$222.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$197.90M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.53M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.44M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$672.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$832.11M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.21M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-18.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$830.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$950.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$927.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$671.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$869.13M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$243.78M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$334.66M	USD	1 Quarter
Cost of revenues (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$181.94M	USD	1 Quarter
Cost of revenues (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$252.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$45.42M	USD	1 Quarter
Impairment and other charges	`ImpairmentAndOtherCharges`	$205.54M	USD	1 Quarter
Impairment and other charges	`ImpairmentAndOtherCharges`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$42.51M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$39.29M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$3.50M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$819.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.16M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-218.71M	USD	1 Quarter
Interest expense	`InterestExpense`	$113.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$89.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$800.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$334.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-308.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$445.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-218.79M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-58.37M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-266.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.76	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.76	USD	1 Quarter
Dividend per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$39.53M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$43.06M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.45M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Gain on disposition of assets, net	`GainOnDispositionOfAssetsNet`	$819.00K	USD	1 Quarter
Gain on disposition of assets, net	`GainOnDispositionOfAssetsNet`	$3.50M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-7.45M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-33.49M	USD	1 Quarter
Impairment and other non-cash charges	`OtherDepreciationAndAmortization`	$205.44M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.66M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$10.86M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-27.22M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.73M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.29M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.75M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-423.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-354.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-81.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.84M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-4.98M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.67M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.19M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$257.00K	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$182.00K	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$433.00K	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$179.00K	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$-448.00K	USD	1 Quarter
Accrued state, local and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.35M	USD	1 Quarter
Accrued state, local and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.65M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$166.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-2.73M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligation`	$3.15M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligation`	$-5.07M	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$825.00K	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$637.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-648.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.44M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$54.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.15M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.02M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$62.28M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.07M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.60M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.42M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-56.21M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$21.49M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$2.70M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$792.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.18M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-792.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.25M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$32.62M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$116.26M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$113.01M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$116.26M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$113.01M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Income taxes (refund) paid, net	`IncomeTaxesPaidNet`	$-12.28M	USD	1 Quarter
Income taxes (refund) paid, net	`IncomeTaxesPaidNet`	$292.00K	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$17.63M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$7.25M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$830.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$950.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$927.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$671.24M	USD	Point-in-time
Adoption of accounting standard (Note 14)	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-356.00K	USD	Point-in-time
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.10M	USD	1 Quarter
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.45M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$2.70M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$792.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Dividends	`DividendsCommonStock`	$21.49M	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$732.00K	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$173.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-712.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$98.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$830.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$950.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$927.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$671.24M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Pension adjustment and reclassification adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-173.00K	USD	1 Quarter
Pension adjustment and reclassification adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-732.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-712.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$98.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-468.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-160.40M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.