10-Q Filing

RPC INC CIK: 742278 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-023956`
Period End Date	20180331
Filing Date	20180430
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	res-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 29 Cash Flow Statement 68 Stockholders Equity 12 Comprehensive Income 9

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.47M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.98M	USD	Point-in-time
Accumulated depreciation of property, plant and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.67B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.84M	USD	Point-in-time
Accumulated depreciation of property, plant and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.66B	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $4,691 in 2018 and $4,471 in 2017	`AccountsReceivableNetCurrent`	$377.85M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $4,691 in 2018 and $4,471 in 2017	`AccountsReceivableNetCurrent`	$384.70M	USD	Point-in-time
Inventories	`InventoryNet`	$120.94M	USD	Point-in-time
Inventories	`InventoryNet`	$114.87M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$40.24M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$29.94M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.95M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.99M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.56M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$640.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$652.08M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,674,538 in 2018 and $1,659,311 in 2017	`PropertyPlantAndEquipmentNet`	$443.93M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,674,538 in 2018 and $1,659,311 in 2017	`PropertyPlantAndEquipmentNet`	$466.08M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$30.71M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.01M	USD	Point-in-time
Total assets	`Assets`	$1.18B	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$127.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.46M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$26.73M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$23.58M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$5.67M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$5.30M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$9.62M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.65M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$8.01M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.22M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.30M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$145.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$178.51M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$10.38M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$11.31M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$34.82M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$35.63M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$39.44M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$38.46M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.72M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$235.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$267.31M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.65M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.55M	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`	$906.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$909.18M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.94M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-18.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$911.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$913.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.15B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.18B	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$298.12M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$436.33M	USD	1 Quarter
Cost of revenues (exclusive of items shown below)	`CostOfGoodsAndServicesSold`	$216.24M	USD	1 Quarter
Cost of revenues (exclusive of items shown below)	`CostOfGoodsAndServicesSold`	$295.61M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$37.16M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$44.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$37.48M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.52M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$60.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.57M	USD	1 Quarter
Interest expense	`InterestExpense`	$105.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$103.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$129.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$402.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$5.39M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$212.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.81M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$66.49M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-1.82M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$14.36M	USD	1 Quarter
Net income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.63M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Dividends 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 income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.63M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$45.41M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$38.15M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.69M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.56M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.52M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.36M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.03M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-11.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$77.41M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.95M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-10.30M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.21M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$179.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.04M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$429.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.53M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-295.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$749.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.99M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.77M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.79M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.12M	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.40M	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.17M	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$374.00K	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$582.00K	USD	1 Quarter
Accrued state, local and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.65M	USD	1 Quarter
Accrued state, local and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$970.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$169.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-4.94M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligations`	$-588.00K	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligations`	$986.00K	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$935.00K	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$345.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-509.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-30.00K	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$109.66M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-12.45M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.48M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.71M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.12M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$2.49M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-47.36M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.21M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$21.66M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$5.67M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$30.71M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.67M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-52.37M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.34M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.93M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$91.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.50M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$100.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$91.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$100.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.84M	USD	Point-in-time
Interest paid, net of amounts capitalized	`InterestPaidNet`	$62.00K	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$292.00K	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$2.20M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$18.82M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.32M	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$911.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$913.71M	USD	Point-in-time
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.56M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$30.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.63M	USD	1 Quarter
Dividends	`DividendsCommonStock`	$21.66M	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$173.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-481.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$42.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$911.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$913.71M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.63M	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`	$-135.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-481.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$42.00K	USD	1 Quarter
Unrealized loss on securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.80M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$51.82M	USD	1 Quarter

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