10-Q Filing

HORNBECK OFFSHORE SERVICES INC /LA CIK: 1131227 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001131227-18-000017`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	hos-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 42 Cash Flow Statement 60 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts of	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.05M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.28M	USD	Point-in-time
Debt Instrument, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$7.86M	USD	Point-in-time
Debt Instrument, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$6.85M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$9.29M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$10.13M	USD	Point-in-time
Deferred Gain	`DeferredGain`	$18.91M	USD	Point-in-time
Deferred Gain	`DeferredGain`	$18.25M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$209.06M	USD	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$186.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$170.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	USD	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,277 and $6,054, respectively	`AccountsReceivableNetCurrent`	$41.56M	USD	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,277 and $6,054, respectively	`AccountsReceivableNetCurrent`	$44.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.89M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.71M	USD	Point-in-time
Common stock Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.11M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$248.44M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	37.14M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.48B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.50B	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	37.49M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	37.14M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	37.49M	shares	Point-in-time
Deferred charges, net	`DeferredCosts`	$12.81M	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$13.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.54M	USD	Point-in-time
Total assets	`Assets`	$2.73B	USD	Point-in-time
Total assets	`Assets`	$2.77B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.20M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.73M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.65M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.47M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$11.33M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$8.46M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$12.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.95M	USD	Point-in-time
Long-term debt, including deferred gain of $18,251 and $18,911, and net of original issue discount of $6,850 and $7,862 and deferred financing costs of $9,295 and $10,134, respectively	`LongTermDebtNoncurrent`	$1.08B	USD	Point-in-time
Long-term debt, including deferred gain of $18,251 and $18,911, and net of original issue discount of $6,850 and $7,862 and deferred financing costs of $9,295 and $10,134, respectively	`LongTermDebtNoncurrent`	$1.08B	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$197.47M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$188.83M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.33B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.33B	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; 37,493 and 37,144 shares issued and outstanding, respectively	`CommonStockValue`	$371.00K	USD	Point-in-time
Common stock: $0.01 par value; 100,000 shares authorized; 37,493 and 37,144 shares issued and outstanding, respectively	`CommonStockValue`	$375.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$760.28M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$760.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$629.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$668.60M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.40B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.44B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.77B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.73B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Vessel revenues	`SalesRevenueServicesNet`	$33.13M	USD	1 Quarter
Vessel revenues	`SalesRevenueServicesNet`	$35.85M	USD	1 Quarter
Non-vessel revenues	`OtherSalesRevenueNet`	$8.45M	USD	1 Quarter
Non-vessel revenues	`OtherSalesRevenueNet`	$8.23M	USD	1 Quarter
Revenues	`Revenues`	$44.08M	USD	1 Quarter
Revenues	`Revenues`	$41.59M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$35.97M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$27.93M	USD	1 Quarter
Depreciation	`Depreciation`	$24.65M	USD	1 Quarter
Depreciation	`Depreciation`	$24.68M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$1.99M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$3.72M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.24M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.88M	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$75.48M	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$70.58M	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$43.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-33.85M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-26.48M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$401.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$644.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.95M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.81M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-323.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-13.73M	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-13.29M	USD	1 Quarter
Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-40.21M	USD	1 Quarter
Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-47.15M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-12.31M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-8.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-38.66M	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.76	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-1.04	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.76	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-1.04	USD	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	37.34M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	36.60M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.34M	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`	$-27.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-38.66M	USD	1 Quarter
Depreciation	`Depreciation`	$24.65M	USD	1 Quarter
Depreciation	`Depreciation`	$24.68M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$1.99M	USD	1 Quarter
Amortization	`AmortizationOfDeferredCharges`	$3.72M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.04M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.87M	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$223.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$3.75M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.56M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-14.43M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.26M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.14M	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$43.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.77M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.80M	USD	1 Quarter
Other current and long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.46M	USD	1 Quarter
Other current and long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.28M	USD	1 Quarter
Deferred drydocking charges	`IncreaseDecreaseInDeferredCharges`	$1.97M	USD	1 Quarter
Deferred drydocking charges	`IncreaseDecreaseInDeferredCharges`	$3.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.92M	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`	$2.16M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.25M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-83.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.62M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.87M	USD	1 Quarter
Costs incurred for OSV newbuild program	`CostsIncurredForOffshoreSupplyVesselsNewbuildProgram`	$2.69M	USD	1 Quarter
Costs incurred for OSV newbuild program	`CostsIncurredForOffshoreSupplyVesselsNewbuildProgram`	$3.29M	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$32.00K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$43.00K	USD	1 Quarter
Vessel capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.91M	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`	$7.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.56M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.55M	USD	1 Quarter
Shares withheld for payment of employee withholding taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$536.00K	USD	1 Quarter
Shares withheld for payment of employee withholding taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$573.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-573.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-536.00K	USD	1 Quarter
Effects of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-227.00K	USD	1 Quarter
Effects of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-43.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.97M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.01M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$209.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$186.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$170.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	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`	$186.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$170.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$217.03M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$15.13M	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`	$449.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-27.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-38.66M	USD	1 Quarter
Foreign currency translation income (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-300.00K	USD	1 Quarter
Foreign currency translation income (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$1.77M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-26.13M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-38.95M	USD	1 Quarter

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