SEC Filings

10-Q
RANGE RESOURCES CORP filed this Form 10-Q on 10/23/2018
Entire Document
 

PART I – FINANCIAL INFORMATION

 

ITEM 1. Financial Statements

RANGE RESOURCES CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

 

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

 

(Unaudited)

 

 

 

 

 

Assets

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

$

357

 

 

$

448

 

Accounts receivable, less allowance for doubtful accounts of $5,862 and $7,111

 

397,536

 

 

 

348,833

 

Derivative assets

 

103

 

 

 

58,607

 

Inventory and other

 

24,488

 

 

 

21,346

 

Total current assets

 

422,484

 

 

 

429,234

 

Derivative assets

 

1,114

 

 

 

273

 

Goodwill

 

1,641,197

 

 

 

1,641,197

 

Natural gas and oil properties, successful efforts method

 

13,643,196

 

 

 

13,216,453

 

Accumulated depletion and depreciation

 

(3,929,060

)

 

 

(3,649,716

)

 

 

9,714,136

 

 

 

9,566,737

 

Other property and equipment

 

112,404

 

 

 

114,361

 

Accumulated depreciation and amortization

 

(101,402

)

 

 

(99,695

)

 

 

11,002

 

 

 

14,666

 

Other assets

 

76,203

 

 

 

76,734

 

Total assets

$

11,866,136

 

 

$

11,728,841

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

$

225,874

 

 

$

343,871

 

Asset retirement obligations

 

6,327

 

 

 

6,327

 

Accrued liabilities

 

386,671

 

 

 

317,531

 

Accrued interest

 

37,739

 

 

 

43,511

 

Derivative liabilities

 

97,256

 

 

 

44,233

 

Total current liabilities

 

753,867

 

 

 

755,473

 

Bank debt

 

1,257,199

 

 

 

1,208,467

 

Senior notes

 

2,855,048

 

 

 

2,851,754

 

Senior subordinated notes

 

48,653

 

 

 

48,585

 

Deferred tax liabilities

 

731,723

 

 

 

693,356

 

Derivative liabilities

 

11,751

 

 

 

9,789

 

Deferred compensation liabilities

 

86,794

 

 

 

101,102

 

Asset retirement obligations and other liabilities

 

303,813

 

 

 

286,043

 

Total liabilities

 

6,048,848

 

 

 

5,954,569

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ Equity

 

 

 

 

 

 

 

Preferred stock, $1 par, 10,000,000 shares authorized, none issued and outstanding

 

 

 

 

 

Common stock, $0.01 par, 475,000,000 shares authorized, 249,504,124 issued at

     September 30, 2018 and 248,144,397 issued at December 31, 2017

 

2,495

 

 

 

2,481

 

Common stock held in treasury, 10,067 shares at September 30, 2018 and 14,967

     shares at December 31, 2017

 

(404

)

 

 

(599

)

Additional paid-in capital

 

5,617,371

 

 

 

5,577,732

 

Accumulated other comprehensive loss

 

(1,124

)

 

 

(1,332

)

Retained earnings

 

198,950

 

 

 

195,990

 

Total stockholders’ equity

 

5,817,288

 

 

 

5,774,272

 

Total liabilities and stockholders’ equity

$

11,866,136

 

 

$

11,728,841

 

 

The accompanying notes are an integral part of these consolidated financial statements.

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