10-Q Filing

HORNBECK OFFSHORE SERVICES INC /LA CIK: 1131227 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001131227-17-000024`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	hos-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 42 Cash Flow Statement 60 Comprehensive Income 6

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts of	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.87M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.12M	USD	Point-in-time
Debt Instrument, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$28.38M	USD	Point-in-time
Debt Instrument, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$31.09M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$10.20M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$9.46M	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$259.80M	USD	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$209.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$255.84M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5,868 and $2,120, respectively	`AccountsReceivableNetCurrent`	$36.55M	USD	Point-in-time
Common stock Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5,868 and $2,120, respectively	`AccountsReceivableNetCurrent`	$28.04M	USD	Point-in-time
Common stock Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.98M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.53M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$270.56M	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	36.47M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	36.73M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$256.64M	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	36.47M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	36.73M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.58B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.56B	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$19.08M	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$18.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.26M	USD	Point-in-time
Total assets	`Assets`	$2.88B	USD	Point-in-time
Total assets	`Assets`	$2.85B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.77M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.76M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$13.52M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$6.40M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.60M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$10.01M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$13.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.28M	USD	Point-in-time
Long-term debt, net of original issue discount of $28,378 and $31,093 and deferred financing costs of $9,458 and $10,197, respectively	`LongTermDebtNoncurrent`	$1.08B	USD	Point-in-time
Long-term debt, net of original issue discount of $28,378 and $31,093 and deferred financing costs of $9,458 and $10,197, respectively	`LongTermDebtNoncurrent`	$1.09B	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$343.02M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$328.18M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.41M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.48B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.46B	USD	Point-in-time
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.01 par value; 100,000 shares authorized; 36,727 and 36,467 shares issued and outstanding, respectively	`CommonStockValue`	$365.00K	USD	Point-in-time
Common stock: $0.01 par value; 100,000 shares authorized; 36,727 and 36,467 shares issued and outstanding, respectively	`CommonStockValue`	$367.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$755.96M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$754.39M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$613.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$637.99M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.24M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$12.01M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.40B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.38B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.88B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.85B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Vessel revenues	`SalesRevenueServicesNet`	$68.22M	USD	1 Quarter
Vessel revenues	`SalesRevenueServicesNet`	$35.85M	USD	1 Quarter
Non-vessel revenues	`OtherSalesRevenueNet`	$8.60M	USD	1 Quarter
Non-vessel revenues	`OtherSalesRevenueNet`	$8.23M	USD	1 Quarter
Revenues	`Revenues`	$44.08M	USD	1 Quarter
Revenues	`Revenues`	$76.82M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$27.93M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$40.43M	USD	1 Quarter
Depreciation	`Depreciation`	$24.68M	USD	1 Quarter
Depreciation	`Depreciation`	$22.17M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$3.72M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$6.28M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$8.67M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.24M	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$70.58M	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$77.56M	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets`	$-45.00K	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-26.48M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-780.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$401.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$377.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.81M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$504.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-323.00K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-13.73M	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-10.18M	USD	1 Quarter
Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.96M	USD	1 Quarter
Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-40.21M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-12.31M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.90M	USD	1 Quarter
Basic loss per common share, Dollars per Share	`EarningsPerShareBasic`	$-0.21	USD	1 Quarter
Basic loss per common share, Dollars per Share	`EarningsPerShareBasic`	$-0.76	USD	1 Quarter
Diluted loss per common share, Dollars per Share	`EarningsPerShareDiluted`	$-0.76	USD	1 Quarter
Diluted loss per common share, Dollars per Share	`EarningsPerShareDiluted`	$-0.21	USD	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	36.60M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	36.09M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.09M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.60M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.90M	USD	1 Quarter
Depreciation	`Depreciation`	$24.68M	USD	1 Quarter
Depreciation	`Depreciation`	$22.17M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$3.72M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$6.28M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.04M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$3.75M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$-103.00K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-14.43M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.82M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.26M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$2.65M	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	$-45.00K	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-31.46M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.77M	USD	1 Quarter
Other current and long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.46M	USD	1 Quarter
Other current and long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.79M	USD	1 Quarter
Deferred drydocking charges	`IncreaseDecreaseInDeferredCharges`	$1.21M	USD	1 Quarter
Deferred drydocking charges	`IncreaseDecreaseInDeferredCharges`	$3.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.37M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.20M	USD	1 Quarter
Accrued liabilities and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.15M	USD	1 Quarter
Accrued liabilities and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.02M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.25M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.25M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.70M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.62M	USD	1 Quarter
Costs incurred for OSV newbuild program	`CostsIncurredForOffshoreSupplyVesselsNewbuildProgram`	$33.66M	USD	1 Quarter
Costs incurred for OSV newbuild program	`CostsIncurredForOffshoreSupplyVesselsNewbuildProgram`	$3.29M	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$420.00K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$32.00K	USD	1 Quarter
Vessel capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.35M	USD	1 Quarter
Vessel capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$161.00K	USD	1 Quarter
Non-vessel capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$130.00K	USD	1 Quarter
Non-vessel capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$266.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.85M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.55M	USD	1 Quarter
Shares withheld for payment of employee withholding taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$573.00K	USD	1 Quarter
Shares withheld for payment of employee withholding taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$450.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-573.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-450.00K	USD	1 Quarter
Effects of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$641.00K	USD	1 Quarter
Effects of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-227.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.96M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.97M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$259.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$209.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$255.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$259.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$209.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$255.84M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$13.79M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$13.76M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$349.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.75M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.90M	USD	1 Quarter
Foreign currency translation income	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$1.77M	USD	1 Quarter
Foreign currency translation income	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$10.16M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-26.13M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$2.65M	USD	1 Quarter

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