10-Q Filing

RPC INC CIK: 742278 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-058762`
Period End Date	20210331
Filing Date	20210430
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	res-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 30 Cash Flow Statement 67 Stockholders Equity 18 Comprehensive Income 8

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.82M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.72M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$788.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.42M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$790.71M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $5,717 in 2021 and $4,815 in 2020	`AccountsReceivableNetCurrent`	$161.77M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $5,717 in 2021 and $4,815 in 2020	`AccountsReceivableNetCurrent`	$186.89M	USD	Point-in-time
Inventories	`InventoryNet`	$80.17M	USD	Point-in-time
Inventories	`InventoryNet`	$82.92M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$82.94M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$82.61M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.12M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.03M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$4.03M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$4.03M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.49M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$428.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$449.64M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $788,922 in 2021 and $790,712 in 2020	`PropertyPlantAndEquipmentNet`	$264.41M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $788,922 in 2021 and $790,712 in 2020	`PropertyPlantAndEquipmentNet`	$257.31M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$25.40M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$27.27M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$35.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$38.31M	USD	Point-in-time
Total assets	`Assets`	$800.07M	USD	Point-in-time
Total assets	`Assets`	$790.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$41.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.65M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$23.07M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$18.43M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$4.44M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$5.49M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$2.79M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$4.54M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.30M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.11M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$9.19M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.59M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$946.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$103.55M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$11.82M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$10.54M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$31.09M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$33.08M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$13.33M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$12.63M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$21.09M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$19.09M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$49.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$158.94M	USD	Point-in-time
Total liabilities	`Liabilities`	$176.90M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.50M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.57M	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`	$627.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$619.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.22M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.42M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$623.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$830.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$671.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$631.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$800.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$790.50M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$182.61M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$243.78M	USD	1 Quarter
Cost of revenues (exclusive of items shown below)	`CostOfGoodsAndServicesSold`	$181.94M	USD	1 Quarter
Cost of revenues (exclusive of items shown below)	`CostOfGoodsAndServicesSold`	$146.22M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$30.59M	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`	$39.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$17.77M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$819.00K	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.46M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.52M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-218.71M	USD	1 Quarter
Interest expense	`InterestExpense`	$113.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$380.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$18.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$334.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$507.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-308.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-218.79M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.38M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-58.37M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-714.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.66M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.76	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.76	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.66M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$17.80M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$39.53M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.54M	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`	$1.46M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-752.00K	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`	$25.08M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.66M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$10.86M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-331.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.29M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.80M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.10M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.75M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-614.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-81.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-2.73M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-4.98M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.16M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$257.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$187.00K	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$4.64M	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$182.00K	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$-1.05M	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`	$1.75M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-2.73M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.61M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligation`	$-1.79M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligation`	$-5.07M	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$-1.28M	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$825.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$291.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.44M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$54.84M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.75M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.02M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.60M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.97M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.42M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.78M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$557.00K	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$792.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-557.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-792.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$925.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$32.62M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.50M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$85.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$85.42M	USD	Point-in-time
Income taxes refund, net	`IncomeTaxesPaidNet`	$-12.28M	USD	1 Quarter
Income taxes refund, net	`IncomeTaxesPaidNet`	$-481.00K	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.27M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$7.25M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$623.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$830.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$671.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$631.57M	USD	Point-in-time
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.54M	USD	1 Quarter
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.10M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$792.00K	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$557.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-160.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.66M	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-732.00K	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-153.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$136.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-712.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$623.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$830.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$671.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$631.57M	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`	$-9.66M	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-153.00K	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-732.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$136.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-712.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-160.40M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.37M	USD	1 Quarter

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