20-F Filing

NATIONAL ENERGY SERVICES REUNITED CORP. CIK: 1698514 FY 2019

Filing Information

Form Type	20-F
Accession Number	`0001493152-20-004179`
Period End Date	20191231
Filing Date	20200318
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	nesr-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 2 Cash Flow Statement 2 Stockholders Equity 25 Comprehensive Income 2

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.89M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.20M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$98.80M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$62.64M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$95.14M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$76.35M	USD	Point-in-time
Service inventories, net	`InventoryNet`	$58.15M	USD	Point-in-time
Service inventories, net	`InventoryNet`	$78.84M	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$9.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	85.56M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	87.19M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$6.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.19M	shares	Point-in-time
Retention withholdings	`RetentionWithholdingsCurrent`	$22.01M	USD	Point-in-time
Retention withholdings	`RetentionWithholdingsCurrent`	$40.97M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	85.56M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$14.02M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$16.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.18M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$299.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$403.21M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$328.73M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$419.31M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$138.05M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$122.71M	USD	Point-in-time
Goodwill	`Goodwill`	$574.76M	USD	Point-in-time
Goodwill	`Goodwill`	$570.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.34M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.37M	USD	Point-in-time
Total assets	`Assets`	$1.34B	USD	Point-in-time
Total assets	`Assets`	$1.52B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$66.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$65.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$69.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$38.99M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$45.09M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$15.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$31.82M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$37.96M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$7.54M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$10.99M	USD	Point-in-time
Other taxes payable	`OtherTaxesPayableCurrent`	$5.81M	USD	Point-in-time
Other taxes payable	`OtherTaxesPayableCurrent`	$7.19M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$25.60M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$24.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$223.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$228.14M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$330.56M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$225.17M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesOther`	$26.22M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesOther`	$30.76M	USD	Point-in-time
Employee benefit liabilities	`EmployeeBenefitLiabilities`	$13.83M	USD	Point-in-time
Employee benefit liabilities	`EmployeeBenefitLiabilities`	$16.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$34.23M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$19.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$512.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$635.89M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares, no par value; unlimited shares authorized; none issued and outstanding at December 31, 2019 and December 31, 2018, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, no par value; unlimited shares authorized; none issued and outstanding at December 31, 2019 and December 31, 2018, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value; unlimited shares authorized; 87,187,289 and 85,562,769 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$801.54M	USD	Point-in-time
Common stock, no par value; unlimited shares authorized; 87,187,289 and 85,562,769 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$801.54M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$1.03M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$17.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$28.30M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$48.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$29.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$830.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$886.47M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	-	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$67.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$51.99M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.34B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time

Income Statement 2 line items

Line Item	Tag	Value	Unit	Period
Net income / (loss)	`ProfitLoss`	$39.36M	USD	Annual
Net income / (loss)	`ProfitLoss`	$34.98M	USD	2 Qtrs

Cash Flow Statement 2 line items

Line Item	Tag	Value	Unit	Period
Net income / (loss)	`ProfitLoss`	$39.36M	USD	Annual
Net income / (loss)	`ProfitLoss`	$34.98M	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$51.99M	USD	Point-in-time
Balance at beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Balance at beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time
Reclassification of shares previously subject to redemption	`ReclassificationOfSharesPreviouslySubjectToRedemption`	$165.19M	USD	2 Qtrs
Redeemed shares	`StockRedeemedOrCalledDuringPeriodValue`	$-19.38M	USD	2 Qtrs
Shares issued to acquire NPS	`StockIssuedDuringPeriodValueAcquisitions`	$255.54M	USD	2 Qtrs
Shares issued to acquire NPS, shares	`StockIssuedDuringPeriodSharesAcquisitions`	53.69M	shares	2 Qtrs
Shares issued to acquire GES	`StockIssuedDuringPeriodValueAcquisitionsOne`	$288.85M	USD	2 Qtrs
Shares issued to related party for loan fee and transaction costs	`SharesIssuedToRelatedPartyForLoanFeeAndTransactionCosts`	$2.72M	USD	2 Qtrs
Shares issued for IPO underwriting fees	`StockIssuedDuringPeriodValueIssuedForServices`	$3.74M	USD	2 Qtrs
Shares issued for IPO underwriting fees, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	307,465.00	shares	2 Qtrs
Business combination non-controlling interest	`BusinessCombinationNoncontrollingInterest`	$-2.00M	USD	2 Qtrs
Non-controlling interest derecognized due to sale of subsidiary	`NoncontrollingInterest`	-	USD	2 Qtrs
Acquisition of non-controlling interest during the period	`AcquisitionOfNoncontrollingInterestDuringPeriod`	-	USD	Annual
Acquisition of non-controlling interest during the period	`AcquisitionOfNoncontrollingInterestDuringPeriod`	-	USD	2 Qtrs
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$5.65M	USD	Annual
Vesting of restricted share units	`VestingOfRestrictedShareUnits`	-	USD	Annual
Other	`StockIssuedDuringPeriodValueOther`	$-17.00K	USD	Annual
Other	`StockIssuedDuringPeriodValueOther`	$47.00K	USD	2 Qtrs
NPS equity earn-out	`NpsEquityEarnout`	$10.48M	USD	Annual
Net income / (loss)	`ProfitLoss`	$39.36M	USD	Annual
Net income / (loss)	`ProfitLoss`	$34.98M	USD	2 Qtrs
Balance at end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$51.99M	USD	Point-in-time
Balance at end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Balance at end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$39.36M	USD	Annual
Net income	`ProfitLoss`	$34.98M	USD	2 Qtrs

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