20-F Filing

NATIONAL ENERGY SERVICES REUNITED CORP. CIK: 1698514 FY 2020

Filing Information

Form Type	20-F
Accession Number	`0001493152-21-006706`
Period End Date	20201231
Filing Date	20210324
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	form20-f_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 4 Cash Flow Statement 4 Stockholders Equity 38 Comprehensive Income 4

Balance Sheet 87 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.20M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.01M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$116.83M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$98.80M	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$76.35M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$158.46M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Service inventories, net	`InventoryNet`	$78.84M	USD	Point-in-time
Service inventories, net	`InventoryNet`	$94.26M	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$11.48M	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$9.59M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.78M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.19M	shares	Point-in-time
Retention withholdings	`RetentionWithholdingsCurrent`	$40.97M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	87.19M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	87.78M	shares	Point-in-time
Retention withholdings	`RetentionWithholdingsCurrent`	$36.77M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$18.45M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$14.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$403.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$515.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$419.31M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$437.74M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$122.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$110.38M	USD	Point-in-time
Goodwill	`Goodwill`	$620.92M	USD	Point-in-time
Goodwill	`Goodwill`	$574.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.37M	USD	Point-in-time
Total assets	`Assets`	$1.69B	USD	Point-in-time
Total assets	`Assets`	$1.52B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.61M	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`	$73.78M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$47.50M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$15.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$37.96M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$42.36M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$9.42M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$7.54M	USD	Point-in-time
Other taxes payable	`OtherTaxesPayableCurrent`	$11.29M	USD	Point-in-time
Other taxes payable	`OtherTaxesPayableCurrent`	$7.19M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$30.40M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$25.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$359.37M	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`	$308.61M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesOther`	$21.07M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesOther`	$26.22M	USD	Point-in-time
Employee benefit liabilities	`EmployeeBenefitLiabilities`	$21.52M	USD	Point-in-time
Employee benefit liabilities	`EmployeeBenefitLiabilities`	$16.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$32.07M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$34.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$635.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$742.64M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	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, 2020 and December 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, no par value; unlimited shares authorized; none issued and outstanding at December 31, 2020 and December 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock and additional paid in capital, no par value; unlimited shares authorized; 87,777,553 and 87,187,289 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$818.78M	USD	Point-in-time
Common stock and additional paid in capital, no par value; unlimited shares authorized; 87,777,553 and 87,187,289 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$826.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$117.75M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$29.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$64.00K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$944.43M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$886.47M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$-8.00K	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	-	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$389.43M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$944.42M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.69B	USD	Point-in-time

Income Statement 4 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$39.36M	USD	Annual
Net income	`ProfitLoss`	$50.09M	USD	Annual
Net income	`ProfitLoss`	$34.98M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.74M	USD	2 Qtrs

Cash Flow Statement 4 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$39.36M	USD	Annual
Net income	`ProfitLoss`	$50.09M	USD	Annual
Net income	`ProfitLoss`	$34.98M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.74M	USD	2 Qtrs

Stockholders Equity 38 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$389.43M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$944.42M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Share-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.03M	USD	2 Qtrs
Share-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$5.65M	USD	Annual
Share-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$7.83M	USD	Annual
Vesting of restricted share units	`VestingOfRestrictedShareUnits`	-	USD	Annual
Vesting of restricted share units	`VestingOfRestrictedShareUnits`	-	USD	Annual
Other	`StockIssuedDuringPeriodValueOther`	$27.00K	USD	Annual
Other	`StockIssuedDuringPeriodValueOther`	$-17.00K	USD	Annual
Other	`StockIssuedDuringPeriodValueOther`	$47.00K	USD	2 Qtrs
Acquisition of non-controlling interest during the period	`AcquisitionOfNoncontrollingInterestDuringPeriod`	-	USD	2 Qtrs
Acquisition of non-controlling interest during the period	`AcquisitionOfNoncontrollingInterestDuringPeriod`	-	USD	Annual
NPS equity earn-out	`NpsEquityEarnout`	$10.48M	USD	Annual
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 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 in secondary offering	`StockIssuedDuringPeriodValueInSecondaryOffering`	$48.29M	USD	2 Qtrs
Shares issued for IPO underwriting fees	`StockIssuedDuringPeriodValueIssuedForServices`	$3.74M	USD	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
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-16.00K	USD	2 Qtrs
Conversion of redeemable shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Dividends paid	`DividendPaid`	$-48.21M	USD	2 Qtrs
Amount of Provision for Zakat	`AmountOfProvisionForZakat`	$-766.00K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$39.36M	USD	Annual
Net income (loss)	`ProfitLoss`	$50.09M	USD	Annual
Net income (loss)	`ProfitLoss`	$34.98M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$6.74M	USD	2 Qtrs
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$389.43M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$830.99M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$886.47M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$944.42M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$39.36M	USD	Annual
Net income	`ProfitLoss`	$50.09M	USD	Annual
Net income	`ProfitLoss`	$34.98M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.74M	USD	2 Qtrs

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