Financial Statements for Precision Drilling Corporation

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Precision Drilling Corporation financials

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Income Statement

Balance Sheet

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In Millions of CAD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	595.72	533.95	484.76	381.97	640.07
Other Revenue, Total	-	-	-	-	-
Total Revenue	595.72	533.95	484.76	381.97	640.07
Cost of Revenue, Total	341.84	326.81	300.40	259.51	356.59
Gross Profit	253.88	207.14	184.37	122.45	283.48
Selling/General/Admin. Expenses, Total	38.70	30.12	33.37	25.26	37.91
Research & Development	-	-	-	-	-
Depreciation/Amortization	84.89	89.28	76.75	66.67	74.82
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	245.01	0.00	0.00	0.00
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	465.43	691.21	410.51	351.44	469.32
Operating Income	130.29	-157.26	74.25	30.52	170.75
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	0.00	-0.15	0.00	-
Income Before Tax	111.02	-177.51	47.23	14.50	143.46
Income After Tax	93.31	-116.34	39.36	18.26	111.08
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	93.31	-116.34	39.36	18.26	111.08
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	93.31	-116.34	39.36	18.26	111.08
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	93.31	-116.34	39.36	18.26	111.08
Income Available to Common Incl. Extra Items	93.31	-116.34	39.36	18.26	111.08
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	286.99	276.37	286.02	286.18	288.05
Diluted EPS Excluding Extraordinary Items	0.33	-0.42	0.14	0.06	0.39
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.05	0.05	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.33	0.16	0.14	0.06	0.39

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	2,040.74	1,951.03	1,429.65	1,197.45
Other Revenue, Total	-	-	-	-
Total Revenue	2,040.74	1,951.03	1,429.65	1,197.45
Cost of Revenue, Total	1,243.30	1,131.02	886.75	692.24
Gross Profit	797.44	820.00	542.90	505.20
Selling/General/Admin. Expenses, Total	126.65	124.94	107.99	98.20
Research & Development	-	-	-	-
Depreciation/Amortization	307.52	251.48	210.10	138.00
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	245.01	141.84	115.78	92.07
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	1,922.48	1,649.28	1,320.62	897.67
Operating Income	118.26	301.75	109.03	299.77
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-0.15	-16.51	0.00	-
Income Before Tax	27.68	240.78	26.19	162.27
Income After Tax	52.36	193.48	43.53	161.70
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	52.36	193.48	43.53	161.70
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	52.36	193.48	43.53	161.70
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	52.36	193.48	43.53	161.70
Income Available to Common Incl. Extra Items	52.36	193.48	43.53	161.70
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	1.23
Diluted Weighted Average Shares	286.63	288.72	275.65	259.61
Diluted EPS Excluding Extraordinary Items	0.18	0.67	0.16	0.63
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.05	0.00	0.00	0.04
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.74	1.06	0.43	0.98

In Millions of CAD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	-	-	-	-	-
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	94.84	152.77	226.84	398.34	369.64
Accounts Receivable - Trade, Net	567.09	509.55	496.30	394.96	619.93
Receivables - Other	-	-	-	-	-
Total Receivables, Net	567.09	509.55	496.30	394.96	619.93
Total Inventory	12.03	13.79	14.54	13.13	10.82
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	673.96	676.10	737.69	806.43	1,000.39
Property/Plant/Equipment, Total - Gross	-	-	-	-	-
Accumulated Depreciation, Total	-	-	-	-	-
Goodwill, Net	311.10	310.55	362.80	363.73	363.18
Intangibles, Net	5.29	6.10	6.92	4.87	5.61
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	-	-	-	-	-
Total Assets	4,378.67	4,300.26	4,506.69	4,481.14	4,488.47
Accounts Payable	-	-	-	-	-
Accrued Expenses	-	-	-	-	-
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-	-
Other Current liabilities, Total	11.10	64.19	42.87	30.30	24.25
Total Current Liabilities	356.88	398.08	414.03	359.62	413.16
Long Term Debt	1,241.15	1,218.80	1,206.42	1,242.99	1,221.40
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	1,241.15	1,218.80	1,206.42	1,242.99	1,221.40
Total Debt	1,241.15	1,218.80	1,206.42	1,242.99	1,221.40
Deferred Income Tax	490.34	485.59	567.51	585.08	591.35
Minority Interest	-	-	-	-	-
Other Liabilities, Total	26.72	26.49	25.80	24.10	21.71
Total Liabilities	2,115.09	2,128.96	2,213.77	2,211.79	2,247.62
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	2,252.71	2,251.98	2,250.82	2,250.44	2,250.16
Additional Paid-In Capital	26.15	24.47	23.47	21.85	19.86
Retained Earnings (Accumulated Deficit)	34.87	-44.62	85.54	46.18	27.92
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	-50.15	-60.53	-66.91	-49.12	-57.09
Total Equity	2,263.58	2,171.30	2,292.92	2,269.35	2,240.85
Total Liabilities & Shareholders' Equity	4,378.67	4,300.26	4,506.69	4,481.14	4,488.47
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	276.55	276.48	276.34	276.31	276.29

In Millions of CAD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	-	-	-	-
Short Term Investments	-	-	-	-
Cash and Short Term Investments	152.77	467.48	256.83	130.80
Accounts Receivable - Trade, Net	328.10	368.22	254.28	185.14
Receivables - Other	-	-	-	-
Total Receivables, Net	509.55	576.24	414.90	309.65
Total Inventory	13.79	7.16	4.93	9.01
Prepaid Expenses	-	-	-	-
Other Current Assets, Total	-	-	-	-
Total Current Assets	676.10	1,050.88	676.66	449.46
Property/Plant/Equipment, Total - Gross	4,608.38	4,129.72	3,497.57	3,704.04
Accumulated Depreciation, Total	-1,365.45	-1,187.42	-965.18	-790.07
Goodwill, Net	310.55	363.65	284.53	760.55
Intangibles, Net	6.10	6.47	6.37	3.16
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	64.58	64.58	64.58	64.58
Total Assets	4,300.26	4,427.87	3,564.54	4,191.71
Accounts Payable	146.23	255.19	127.71	53.55
Accrued Expenses	187.66	181.47	90.09	74.83
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	0.00	0.22
Other Current liabilities, Total	64.19	3.79	0.86	0.00
Total Current Liabilities	398.08	440.45	218.66	128.60
Long Term Debt	1,218.80	1,239.62	804.49	748.73
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	1,218.80	1,239.62	804.49	748.73
Total Debt	1,218.80	1,239.62	804.49	748.95
Deferred Income Tax	485.59	587.79	578.24	703.20
Minority Interest	-	-	-	-
Other Liabilities, Total	26.49	27.42	30.32	26.69
Total Liabilities	2,128.96	2,295.28	1,631.71	1,607.21
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	2,251.98	2,248.22	2,244.42	2,770.71
Additional Paid-In Capital	24.47	18.40	11.27	4.06
Retained Earnings (Accumulated Deficit)	-44.62	-83.16	-276.64	107.23
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-60.53	-50.86	-46.22	-297.50
Total Equity	2,171.30	2,132.59	1,932.83	2,584.50
Total Liabilities & Shareholders' Equity	4,300.26	4,427.87	3,564.54	4,191.71
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	276.48	276.08	275.69	275.64

In Millions of CAD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	93.31	52.36	168.70	129.34	111.08
Depreciation/Depletion	84.89	307.52	218.25	141.49	74.82
Amortization	-	-	-	-	-
Deferred Taxes	-	-	-	-	-
Non-Cash Items	-33.52	238.93	69.29	39.28	61.83
Changes in Working Capital	-81.73	36.47	42.73	127.67	-85.30
Cash from Operating Activities	62.95	635.29	498.97	437.79	162.44
Capital Expenditures	-130.60	-868.06	-681.41	-442.76	-221.68
Other Investing Cash Flow Items, Total	18.28	-62.06	-48.62	-64.92	-33.03
Cash from Investing Activities	-112.33	-930.12	-730.02	-507.68	-254.72
Financing Cash Flow Items	-	-3.00	-3.00	0.00	0.00
Total Cash Dividends Paid	-13.82	-13.82	-	-	-
Issuance (Retirement) of Stock, Net	0.48	1.93	1.49	1.30	1.17
Issuance (Retirement) of Debt, Net	-	0.00	0.00	0.00	0.00
Cash from Financing Activities	-13.35	-14.90	-1.51	1.30	1.17
Foreign Exchange Effects	4.79	-4.97	-8.07	-0.55	-6.73
Net Change in Cash	-57.93	-314.71	-240.63	-69.13	-97.83
Cash Interest Paid, Supplemental	7.49	85.25	49.96	42.78	7.26
Cash Taxes Paid, Supplemental	70.68	9.68	6.70	4.23	0.77

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	52.36	193.48	43.53	161.70
Depreciation/Depletion	307.52	251.48	210.10	138.00
Amortization	-	-	-	-
Deferred Taxes	-	-	-	15.47
Non-Cash Items	238.93	147.43	150.53	16.38
Changes in Working Capital	36.47	-59.62	-97.90	173.17
Cash from Operating Activities	635.29	532.77	306.26	504.73
Capital Expenditures	-868.06	-726.36	-175.90	-193.44
Other Investing Cash Flow Items, Total	-62.06	10.89	57.79	-16.80
Cash from Investing Activities	-930.12	-715.46	-118.11	-210.23
Financing Cash Flow Items	-3.00	-41.87	-26.27	-21.63
Total Cash Dividends Paid	-13.82	0.00	-	-27.23
Issuance (Retirement) of Stock, Net	1.93	2.24	0.12	413.22
Issuance (Retirement) of Debt, Net	0.00	406.52	-33.41	-565.38
Cash from Financing Activities	-14.90	366.89	-59.56	-201.02
Foreign Exchange Effects	-4.97	26.45	-2.56	-24.19
Net Change in Cash	-314.71	210.65	126.03	69.29
Cash Interest Paid, Supplemental	85.25	79.90	62.83	103.11
Cash Taxes Paid, Supplemental	9.68	41.80	11.19	23.70