Financial Summary

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Newfield Exploration Company (NFX)

Income Statement

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Restated)
Net Sales 1.77M 1.47M 1.56M 2.29M 1.86M
Revenue 1.77M 1.47M 1.56M 2.29M 1.86M
Total Revenue 1.77M 1.47M 1.56M 2.29M 1.86M
Cost of Revenue 279.00 286.00 331.00 432.00 363.00
Cost of Revenue, Total 279.00 286.00 331.00 432.00 363.00
Gross Profit 1.49M 1.19M 1.23M 1.86M 1.49M
Selling/General/Administrative Expense 498.00 457.00 429.00 396.00 356.00
Selling/General/Administrative Expenses, Total 498.00 457.00 429.00 396.00 356.00
Depreciation 467.00 572.00 917.00 870.00 685.00
Depreciation/Amortization 467.00 572.00 917.00 870.00 685.00
Restructuring Charge 2.00 5.00 27.00
Impairment-Assets Held for Use -- 1.03M 4.90M -- --
Other Unusual Expense (Income) -- 23.00
Unusual Expense (Income) 2.00 1.06M 4.93M -- --
Minimum Pension Liability Adjustment
Other Operating Expense 6.00 20.00 10.00 15.00 3.00
Other, Net
Other Operating Expenses, Total 6.00 20.00 10.00 15.00 3.00
Total Operating Expense 1.25M 2.39M 6.62M 1.71M 1.41M
Operating Income 515.00 -919.00 -5,061.00 575.00 450.00
Interest Expense - Non-Operating -150.00 -154.00 -164.00 -200.00 -205.00
Interest Capitalized - Non-Operating 61.00 51.00 33.00 53.00 53.00
Interest Expense, Net Non-Operating -89.00 -103.00 -131.00 -147.00 -152.00
Investment Income, Non-Operating -47.00 -191.00 259.00 610.00 -97.00
Interest/Investment Income, Non-Operating -47.00 -191.00 259.00 610.00 -97.00
Interest Income (Expense), Net-Non-Operating, Total -136.00 -294.00 128.00 463.00 -249.00
Other Non-Operating Income (Expense) 7.00 5.00 -14.00 -6.00 --
Other, Net 7.00 5.00 -14.00 -6.00 --
Net Income Before Taxes 386.00 -1,208.00 -4,947.00 1.03M 201.00
Income Tax – Total 1.00 22.00 -1,585.00 382.00 128.00
Income After Tax 385.00 -1,230.00 -3,362.00 650.00 73.00
Net Income Before Extraordinary Items 385.00 -1,230.00 -3,362.00 650.00 73.00
Discontinued Operations -- -- 250.00 74.00
Extraordinary Item 42.00
Total Extraordinary Items 42.00 -- -- 250.00 74.00
Net Income 427.00 -1,230.00 -3,362.00 900.00 147.00
Preferred Dividends -- -20.00
Total Adjustments to Net Income -- -20.00
Income Available to Common Excluding Extraordinary Items 385.00 -1,230.00 -3,362.00 650.00 53.00
Income Available to Common Stocks Including Extraordinary Items 427.00 -1,230.00 -3,362.00 900.00 127.00
Basic Weighted Average Shares 199.00 193.00 159.00 137.00 135.00
Basic EPS Excluding Extraordinary Items 1.93 -6.37 -21.14 4.74 0.39
Basic EPS Including Extraordinary Items 2.15 -6.37 -21.14 6.57 0.94
Dilution Adjustment
Diluted Net Income 427.00 -1,230.00 -3,362.00 900.00 127.00
Diluted Weighted Average Shares 200.00 193.00 159.00 138.00 136.00
Diluted EPS Excluding Extraordinary Items 1.93 -6.37 -21.14 4.71 0.39
Diluted EPS Including Extraordinary Items 2.14 -6.37 -21.14 6.52 0.93
DPS - Common Stock Primary Issue -- -- --
Gross Dividends - Common Stock -- -- -- -- --
Stock-Based Compensation, Supplemental 41.00 36.00 25.00 28.00 43.00
Interest Expense, Supplemental 89.00 103.00 131.00 147.00 152.00
Interest Capitalized, Supplemental -61.00 -51.00 -33.00 -53.00 -53.00
Depreciation, Supplemental 467.00 572.00 917.00 903.00 930.00
Total Special Items 2.00 1.06M 4.93M -- --
Normalized Income Before Taxes 388.00 -152.00 -16.00 1.03M 201.00
Effect of Special Items on Income Taxes 0.01 369.60 1.73M -- --
Income Taxes Excluding Impact of Special Items 1.01 391.60 140.85 382.00 128.00
Normalized Income After Taxes 386.99 -543.60 -156.85 650.00 73.00
Normalized Income Available to Common 386.99 -543.60 -156.85 650.00 53.00
Basic Normalized EPS 1.94 -2.82 -0.99 4.74 0.39
Diluted Normalized EPS 1.93 -2.82 -0.99 4.71 0.39
Rental Expense, Supplemental 16.00 21.00 35.00 20.00 284.00
Audit-Related Fees, Supplemental 2.15 2.19 1.84 2.26
Audit-Related Fees 0.05 0.05 0.04 0.05
Tax Fees, Supplemental 0.14 0.13 0.06 0.32
All Other Fees Paid to Auditor, Supplemental -- -- -- --
Gross Margin 84.21 80.57 78.74 81.12 80.45
Operating Margin 29.15 -62.43 -325.05 25.13 24.23
Pretax Margin 21.84 -82.07 -317.73 45.10 10.82
Effective Tax Rate 0.26 37.02 63.68
Net Profit Margin 21.79 -83.56 -215.93 28.41 2.85
Normalized EBIT 517.00 137.00 -130.00 575.00 450.00
Normalized EBITDA 984.00 709.00 787.00 1.48M 1.38M
Current Tax - Domestic -79.00 -13.00 -12.00 -- -4.00
Current Tax - Foreign 1.00 22.00 31.00 3.00 2.00
Current Tax - Local -- -- -2.00 2.00 --
Current Tax - Total
Current Tax - Total -78.00 9.00 17.00 5.00 -2.00
Deferred Tax - Domestic 4.00 10.00 -1,507.00 350.00 53.00
Deferred Tax - Foreign -4.00 -10.00 -68.00 2.00 64.00
Deferred Tax - Local 37.00 13.00 -27.00 25.00 13.00
Deferred Tax - Total 37.00 13.00 -1,602.00 377.00 130.00
Other Tax 42.00
Income Tax - Total 1.00 22.00 -1,585.00 382.00 128.00
Interest Cost - Domestic
Expected Return on Assets - Domestic
Curtailments & Settlements - Domestic
Domestic Pension Plan Expense
Other Post-Retirement, Net 3.00 3.00 3.00 2.00
Post-Retirement Plan Expense 3.00 3.00 3.00 2.00
Defined Contribution Expense - Domestic 6.00 6.00 7.00 10.00
Total Pension Expense 9.00 9.00 10.00 12.00
Discount Rate - Domestic
Expected Rate of Return - Domestic
Total Plan Interest Cost
Total Plan Expected Return
Total Plan Other Expense 3.00 3.00 3.00 2.00
Crude Oil, Avg. Production (Barrels/Day) 65.67M 71.97M 73.07M 52.18M 38.90M
Crude Oil Production (Barrels) 24.04MM 26.34MM 26.75MM 19.05MM 14.20MM
Gas Liquids, Average Production (Barrels/Day) 31.59M 29.29M 23.37M 22.48M 14.15M
Gas Liquids Production (Barrels) 11.56MM 10.72MM 8.55MM 8.21MM 5.16MM
Natural Gas, Average Production (Cubic Meters/Day) 9.72MM 10.05MM 9.00MM 9.17MM 9.01MM
Natural Gas, Average Sales Price per Cubic Meter 0.10 0.08 0.08 0.15 0.12
Natural Gas Production (Cubic Meters) 3.56B 3.68B 3.29B 3.35B 3.29B
Oil Equivalent Production (Barrels/Day) 158.83M 164.94M 153.47M 132.35M 109.71M
Exploration and Development Costs 1.14M 1.21M 1.22M 2.02M 2.14M

Balance Sheet

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Restated) Year Ending Dec 2013 (Reclassified)
Cash & Equivalents 326.00 555.00 5.00 14.00 95.00
Short Term Investments -- 25.00
Cash and Short Term Investments 326.00 580.00 5.00 14.00 95.00
Accounts Receivable - Trade, Gross 308.00 248.00 278.00 455.00 475.00
Provision for Doubtful Accounts -16.00 -16.00 -16.00 -16.00 -1.00
Accounts Receivable - Trade, Net 292.00 232.00 262.00 439.00 474.00
Total Receivables, Net 292.00 232.00 262.00 439.00 474.00
Total Inventory 15.00 16.00 34.00 33.00 163.00
Restricted Cash - Current 90.00
Deferred Income Tax - Current Asset 22.00
Other Current Assets 113.00 121.00 324.00 454.00 57.00
Other Current Assets, Total 113.00 121.00 324.00 454.00 169.00
Total Current Assets 746.00 949.00 625.00 940.00 901.00
Natural Resources - Gross 24.47M 23.24M 22.35M 20.97M 16.41M
Other Property/Plant/Equipment - Gross 280.00 265.00 267.00 258.00 243.00
Property/Plant/Equipment, Total - Gross 24.75M 23.50M 22.62M 21.22M 16.65M
Accumulated Depreciation, Total -20,653.00 -20,194.00 -18,624.00 -12,809.00 -8,375.00
Property/Plant/Equipment, Total - Net 4.10M 3.31M 3.99M 8.41M 8.28M
Goodwill, Net
LT Investments - Other 24.00 19.00 20.00 26.00 63.00
Long Term Investments 24.00 19.00 20.00 26.00 63.00
Deferred Income Tax - Long Term Asset 19.00
Restricted Cash - Long Term 40.00 25.00
Other Long Term Assets 52.00 12.00 132.00 200.00 63.00
Other Long Term Assets, Total 92.00 37.00 132.00 200.00 82.00
Total Assets 4.96M 4.31M 4.77M 9.58M 9.32M
Accounts Payable 46.00 33.00 41.00 32.00 76.00
Accrued Expenses 285.00 287.00 344.00 651.00 710.00
Notes Payable/Short Term Debt -- -- -- -- --
Income Taxes Payable 67.00 15.00 25.00 32.00 93.00
Other Payables 239.00 196.00 164.00 197.00 175.00
Deferred Income Tax - Current Liability -- 144.00
Other Current Liabilities 181.00 153.00 73.00 45.00 236.00
Other Current liabilities, Total 487.00 364.00 262.00 418.00 504.00
Total Current Liabilities 818.00 684.00 647.00 1.10M 1.29M
Long Term Debt 2.43M 2.43M 2.47M 2.87M 3.69M
Total Long Term Debt 2.43M 2.43M 2.47M 2.87M 3.69M
Total Debt 2.43M 2.43M 2.47M 2.87M 3.69M
Deferred Income Tax - Long Term Liability 76.00 39.00 26.00 1.48M 1.14M
Deferred Income Tax 76.00 39.00 26.00 1.48M 1.14M
Reserves 130.00 154.00 192.00 183.00 201.00
Other Long Term Liabilities 95.00 66.00 57.00 45.00 38.00
Other Liabilities, Total 225.00 220.00 249.00 228.00 239.00
Total Liabilities 3.55M 3.37M 3.39M 5.69M 6.37M
Preferred Stock - Non Redeemable -- -- -- --
Preferred Stock - Non Redeemable, Net -- -- -- --
Common Stock 2.00 2.00 2.00 1.00 1.00
Common Stock, Total 2.00 2.00 2.00 1.00 1.00
Additional Paid-In Capital 3.30M 3.25M 2.44M 1.58M 1.54M
Retained Earnings (Accumulated Deficit) -1,838.00 -2,265.00 -1,035.00 2.33M 1.43M
Treasury Stock - Common -59.00 -44.00 -22.00 -10.00 -13.00
Unrealized Gain (Loss) 1.00 1.00
Minimum Pension Liability Adjustment -3.00 -2.00
Other Comprehensive Income -- -2.00 2.00
Other Equity, Total -- -2.00 -3.00 -2.00 2.00
Total Equity 1.41M 938.00 1.38M 3.89M 2.96M
Total Liabilities & Shareholders' Equity 4.96M 4.31M 4.77M 9.58M 9.32M
Shares Outstanding – Common Stock Primary Issue 199.70 198.95 163.49 137.33 136.22
Total Common Shares Outstanding 199.70 198.95 163.49 137.33 136.22
Treasury Shares – Common Primary Issue 1.66 1.20 0.61 0.28 0.46
Employees 1.01M 994.00 1.11M 1.33M 1.55M
Number of Common Shareholders 1.34M 1.44M 1.48M 1.53M 1.62M
Total Current Assets less Inventory 731.00 933.00 591.00 907.00 738.00
Quick Ratio 0.89 1.36 0.91 0.82 0.57
Current Ratio 0.91 1.39 0.97 0.85 0.70
Net Debt 2.11M 1.85M 2.46M 2.86M 3.60M
Tangible Book Value 1.41M 938.00 1.38M 3.89M 2.96M
Tangible Book Value per Share 7.05 4.71 8.43 28.35 21.70
Total Long Term Debt, Supplemental 2.45M 2.45M 2.49M 3.70M
Long Term Debt Maturing within 1 Year -- -- -- --
Long Term Debt Maturing in Year 2 -- -- -- --
Long Term Debt Maturing in Year 3 -- -- -- --
Long Term Debt Maturing in Year 4 -- -- 19.50 624.50
Long Term Debt Maturing in Year 5 750.00 -- 19.50 624.50
Long Term Debt Maturing in 2-3 Years -- -- -- --
Long Term Debt Maturing in 4-5 Years 750.00 -- 39.00 1.25M
Long Term Debt Maturing in Year 6 & Beyond 1.70M 2.45M 2.45M 2.45M
Total Operating Leases 181.00 416.00 645.00 637.00
Operating Lease Payments Due in Year 1 67.00 175.00 200.00 156.00
Operating Lease Payments Due in Year 2 37.00 93.00 147.00 110.00
Operating Lease Payments Due in Year 3 29.00 70.00 98.00 88.00
Operating Lease Payments Due in Year 4 25.00 30.00 81.00 86.00
Operating Lease Payments Due in Year 5 6.00 22.00 44.00 76.00
Operating Lease Payments Due in 2-3 Years 66.00 163.00 245.00 198.00
Operating Lease Payments Due in 4-5 Years 31.00 52.00 125.00 162.00
Standardized Operating Lease Payments Due in Year 6 and Beyond 17.00 26.00 75.00 121.00
Pension Obligation - Domestic
Post-Retirement Obligation
Plan Assets - Domestic
Funded Status - Domestic
Funded Status - Post-Retirement
Accumulated Obligation - Domestic
Accumulated Obligation - Post-Retirement 22.00 20.00 18.00 10.00
Total Funded Status
Discount Rate - Domestic
Expected Rate of Return - Domestic
Accrued Liabilities - Domestic
Accrued Liabilities - Post-Retirement -22.00 -20.00 -18.00
Other Assets, Net - Domestic
Net Assets Recognized on Balance Sheet -22.00 -20.00 -18.00
Equity % - Domestic
Debt Securities % - Domestic
Total Plan Obligations
Total Plan Assets
Developed Square Kilometers - Oil & Gas 3.56M 3.09M 3.09M 2.87M 3.04M
Undeveloped Square Kilometers -Oil & Gas 911.25 1.86M 2.22M 2.27M 3.30M
Number of Wells, New 120.00 91.00 139.00 347.00 313.30
Number of Wells, Total 3.12M 3.04M 3.28M 3.31M 3.26M
Oil and NGL Reserves, Proved (Barrels) 396.00MM 285.00MM 291.00MM 377.00MM 302.00MM
Natural Gas Reserves, Proved (Cubic Meters) 48.26B 38.69B 36.96B 45.51B 46.67B
Oil and NGL Reserves, Probable (Barrels)
Natural Gas Reserves, Probable (Cubic Meters)

Cash Flow

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update)
Net Income/Starting Line 427.00 -1,230.00 -3,362.00 900.00 147.00
Depreciation – Supplemental 467.00 572.00 917.00 903.00 930.00
Depreciation/Depletion 467.00 572.00 917.00 903.00 930.00
Deferred Taxes 37.00 13.00 -1,602.00 509.00 143.00
Discontinued Operations
Unusual Items 83.00 1.42M 5.15M -373.00 --
Other Non-Cash Items 48.00 35.00 68.00 -600.00 214.00
Non-Cash Items 131.00 1.46M 5.22M -973.00 214.00
Accounts Receivable -60.00 22.00 83.00 47.00 -62.00
Inventories -2.00 -- -11.00
Other Assets -25.00 -28.00 18.00
Payable/Accrued 27.00 -3.00 -45.00 21.00 74.00
Other Liabilities 27.00 8.00 -8.00
Other Operating Cash Flow -77.00 -3.00
Changes in Working Capital -110.00 16.00 38.00 48.00 11.00
Cash from Operating Activities 952.00 826.00 1.21M 1.39M 1.45M
Purchase of Fixed Assets -1,289.00 -1,371.00 -1,745.00 -2,128.00 -2,095.00
Capital Expenditures -1,289.00 -1,371.00 -1,745.00 -2,128.00 -2,095.00
Sale of Business -- -- 809.00
Sale of Fixed Assets 96.00 405.00 90.00 620.00 36.00
Sale/Maturity of Investment 50.00 -- -- 39.00 1.00
Purchase of Investments -25.00 -25.00
Other Investing Cash Flow -- -- 57.00
Other Investing Cash Flow Items, Total 121.00 380.00 147.00 1.47M 37.00
Cash from Investing Activities -1,168.00 -991.00 -1,598.00 -660.00 -2,058.00
Other Financing Cash Flow -1.00 -3.00 -11.00 -- -4.00
Financing Cash Flow Items -1.00 -3.00 -11.00 -- -4.00
Sale/Issuance of Common 3.00 779.00 819.00 6.00 1.00
Repurchase/Retirement of Common -15.00 -22.00 -12.00 -11.00 -6.00
Common Stock, Net -12.00 757.00 807.00 -5.00 -5.00
Repurchase/Retirement of Preferred -- -- -20.00
Preferred Stock, Net -- -- -20.00
Issuance (Retirement) of Stock, Net -12.00 757.00 807.00 -5.00 -25.00
Long Term Debt Issued -- 536.00 2.60M 2.95M 3.26M
Long Term Debt Reduction -- -575.00 -3,015.00 -3,752.00 -2,614.00
Long Term Debt, Net -- -39.00 -416.00 -803.00 649.00
Issuance (Retirement) of Debt, Net -- -39.00 -416.00 -803.00 649.00
Cash from Financing Activities -13.00 715.00 380.00 -808.00 620.00
Foreign Exchange Effects
Net Change in Cash -229.00 550.00 -9.00 -81.00 7.00
Net Cash - Beginning Balance 555.00 5.00 14.00 95.00 88.00
Net Cash - Ending Balance 326.00 555.00 5.00 14.00 95.00
Cash Interest Paid 84.00 97.00 119.00 144.00 148.00
Cash Taxes Paid 2.00 17.00 25.00 4.00 128.00
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