10-Q Filing

RPC INC CIK: 742278 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-023249`
Period End Date	20190331
Filing Date	20190502
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	res-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 30 Cash Flow Statement 68 Stockholders Equity 21 Comprehensive Income 8

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.81M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.05M	USD	Point-in-time
Accumulated depreciation of property, plant and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.66B	USD	Point-in-time
Accumulated depreciation of property, plant and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.63B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.26M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5,121 in 2019 and $4,813 in 2018	`AccountsReceivableNetCurrent`	$319.20M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5,121 in 2019 and $4,813 in 2018	`AccountsReceivableNetCurrent`	$323.53M	USD	Point-in-time
Inventories	`InventoryNet`	$124.46M	USD	Point-in-time
Inventories	`InventoryNet`	$130.08M	USD	Point-in-time
Inventories	`InventoryNet`	$130.08M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$35.83M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$8.61M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.34M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.77M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.21M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$618.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$577.85M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,656,164 in 2019 and $1,633,827 in 2018	`PropertyPlantAndEquipmentNet`	$517.98M	USD	Point-in-time
Property, plant and equipment, less accumulated depreciation of $1,656,164 in 2019 and $1,633,827 in 2018	`PropertyPlantAndEquipmentNet`	$537.29M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$45.85M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Goodwill	`Goodwill`	$32.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$33.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$30.51M	USD	Point-in-time
Total assets	`Assets`	$1.18B	USD	Point-in-time
Total assets	`Assets`	$1.20B	USD	Point-in-time
Total assets	`Assets`	$1.23B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$109.89M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$25.71M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$26.16M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$6.36M	USD	Point-in-time
Accrued insurance expenses	`AccruedInsuranceCurrent`	$6.18M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$4.73M	USD	Point-in-time
Accrued state, local and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$3.08M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.52M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$4.71M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$12.55M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$317.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$151.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$163.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$143.24M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$12.07M	USD	Point-in-time
Long-term accrued insurance expenses	`AccruedInsuranceNoncurrent`	$12.71M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$29.64M	USD	Point-in-time
Long-term pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$32.55M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$60.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$52.99M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$34.35M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.51M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$249.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$298.63M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.45M	USD	Point-in-time
Common stock	`CommonStockValue`	$21.51M	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`	$927.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$947.71M	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
Total stockholders' equity	`StockholdersEquity`	$911.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$913.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$927.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$950.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.23B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.20B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$436.33M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$334.66M	USD	1 Quarter
Cost of revenues (exclusive of items shown below)	`CostOfGoodsAndServicesSold`	$252.40M	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`	$45.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$42.51M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$37.48M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$3.50M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$1.36M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$60.80M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-2.16M	USD	1 Quarter
Interest expense	`InterestExpense`	$89.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$105.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$402.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$800.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$445.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$5.39M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$66.49M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.00M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-266.00K	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$14.36M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$43.06M	USD	1 Quarter
Depreciation, amortization and other non-cash charges	`DepreciationAmortizationAndOtherNonCashItems`	$38.15M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.45M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.56M	USD	1 Quarter
Gain on disposition of assets, net	`GainLossOnDispositionOfAssets`	$3.50M	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`	$-7.45M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.95M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.40M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-27.22M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-10.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.21M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.73M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.04M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-423.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-354.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.53M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.84M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-295.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.99M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.67M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.19M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.79M	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$433.00K	USD	1 Quarter
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.17M	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$179.00K	USD	1 Quarter
Accrued insurance expenses	`IncreaseDecreaseInInsuranceLiabilities`	$374.00K	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`	$166.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$169.00K	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligations`	$3.15M	USD	1 Quarter
Pension liabilities	`IncreaseDecreaseInPensionPlanObligations`	$-588.00K	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$935.00K	USD	1 Quarter
Long-term accrued insurance expenses	`IncreaseDecreaseInLongTermInsuranceExpenses`	$637.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-509.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-648.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.15M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$109.66M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.48M	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`	$3.12M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-56.21M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.36M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$21.49M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$21.66M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$30.71M	USD	1 Quarter
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$2.70M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-52.37M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.18M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.93M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.25M	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`	$113.01M	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`	$116.26M	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`	$113.01M	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`	$116.26M	USD	Point-in-time
Income taxes (refund) paid, net	`IncomeTaxesPaidNet`	$-18.94M	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`	$18.82M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$911.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$913.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$927.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$950.42M	USD	Point-in-time
Adoption of accounting standard (Note 2)	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-356.00K	USD	Point-in-time
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.45M	USD	1 Quarter
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.56M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$2.70M	USD	1 Quarter
Stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$30.71M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$52.13M	USD	1 Quarter
Dividends	`DividendsCommonStock`	$21.49M	USD	1 Quarter
Dividends	`DividendsCommonStock`	$21.66M	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$173.00K	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`	$98.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$911.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$913.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$927.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$950.42M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-739.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$52.13M	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`	$-173.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-481.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$98.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-468.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$51.82M	USD	1 Quarter

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