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10-Q Filing

COTERRA ENERGY INC. CIK: 858470 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0000858470-15-000006
Period End Date 20150331
Filing Date 20150424
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance cog-20150331.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Common stock, authorized shares CommonStockSharesAuthorized 960.00M shares Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 960.00M shares Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $25.43M USD Point-in-time
Common stock, Issued shares CommonStockSharesIssued 422.92M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.95M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.95M USD Point-in-time
Common stock, Issued shares CommonStockSharesIssued 423.50M shares Point-in-time
Accounts receivable, net ReceivablesNetCurrent $239.01M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $185.28M USD Point-in-time
Treasury stock, shares TreasuryStockShares 9.89M shares Point-in-time
Treasury stock, shares TreasuryStockShares 9.89M shares Point-in-time
Inventories InventoryNet $14.03M USD Point-in-time
Inventories InventoryNet $14.09M USD Point-in-time
Derivative instruments DerivativeInstrumentsAndHedges $134.04M USD Point-in-time
Derivative instruments DerivativeInstrumentsAndHedges $137.60M USD Point-in-time
Other current assets OtherAssetsCurrent $2.05M USD Point-in-time
Other current assets OtherAssetsCurrent $1.85M USD Point-in-time
Total current assets AssetsCurrent $413.45M USD Point-in-time
Total current assets AssetsCurrent $349.40M USD Point-in-time
Properties and equipment, net (Successful efforts method) PropertyPlantAndEquipmentNet $5.06B USD Point-in-time
Properties and equipment, net (Successful efforts method) PropertyPlantAndEquipmentNet $4.93B USD Point-in-time
Equity method investments EquityMethodInvestments $74.53M USD Point-in-time
Equity method investments EquityMethodInvestments $68.03M USD Point-in-time
Other assets OtherAssetsNoncurrent $29.59M USD Point-in-time
Other assets OtherAssetsNoncurrent $30.53M USD Point-in-time
TOTAL ASSETS Assets $5.44B USD Point-in-time
TOTAL ASSETS Assets $5.51B USD Point-in-time
Accounts payable AccountsPayableCurrent $321.21M USD Point-in-time
Accounts payable AccountsPayableCurrent $400.08M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $63.67M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $34.58M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent - USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $7.81M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesCurrent $35.27M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesCurrent $39.14M USD Point-in-time
Total current liabilities LiabilitiesCurrent $402.75M USD Point-in-time
Total current liabilities LiabilitiesCurrent $499.02M USD Point-in-time
Postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $36.45M USD Point-in-time
Postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $35.83M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.88B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.75B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $851.65M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $843.88M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $124.66M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $130.54M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $38.41M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $39.61M USD Point-in-time
Total liabilities Liabilities $3.29B USD Point-in-time
Total liabilities Liabilities $3.34B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock: Authorized -- 960,000,000 shares of $0.10 par value in 2015 and 2014, respectively Issued-- 423,496,205 shares and 422,915,258 shares in 2015 and 2014, respectively CommonStockValue $42.29M USD Point-in-time
Common stock: Authorized -- 960,000,000 shares of $0.10 par value in 2015 and 2014, respectively Issued-- 423,496,205 shares and 422,915,258 shares in 2015 and 2014, respectively CommonStockValue $42.35M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $711.18M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $710.43M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.73B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.70B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.15M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.15M USD Point-in-time
Less treasury stock, at cost: 9,892,680 shares in 2015 and 2014, respectively TreasuryStockValue $306.83M USD Point-in-time
Less treasury stock, at cost: 9,892,680 shares in 2015 and 2014, respectively TreasuryStockValue $306.83M USD Point-in-time
Total stockholders' equity StockholdersEquity $2.14B USD Point-in-time
Total stockholders' equity StockholdersEquity $2.18B USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $5.51B USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $5.44B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Natural gas NaturalGasProductionRevenue $360.19M USD 1 Quarter
Natural gas NaturalGasProductionRevenue $432.81M USD 1 Quarter
Crude oil and condensate OilAndCondensateRevenue $62.56M USD 1 Quarter
Crude oil and condensate OilAndCondensateRevenue $59.14M USD 1 Quarter
Gain (loss) on derivative instruments GainLossOnSaleOfDerivatives $34.12M USD 1 Quarter
Gain (loss) on derivative instruments GainLossOnSaleOfDerivatives - USD 1 Quarter
Brokered natural gas BrokeredNaturalGasRevenue $4.83M USD 1 Quarter
Brokered natural gas BrokeredNaturalGasRevenue $13.15M USD 1 Quarter
Other OtherSalesRevenueNet $3.07M USD 1 Quarter
Other OtherSalesRevenueNet $4.70M USD 1 Quarter
TOTAL OPERATING REVENUES Revenues $464.76M USD 1 Quarter
TOTAL OPERATING REVENUES Revenues $509.80M USD 1 Quarter
Direct operations DirectOperatingCosts $36.02M USD 1 Quarter
Direct operations DirectOperatingCosts $35.83M USD 1 Quarter
Transportation and gathering GasGatheringTransportationMarketingAndProcessingCosts $77.77M USD 1 Quarter
Transportation and gathering GasGatheringTransportationMarketingAndProcessingCosts $121.23M USD 1 Quarter
Brokered natural gas BrokeredNaturalGasCosts $3.74M USD 1 Quarter
Brokered natural gas BrokeredNaturalGasCosts $11.86M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $13.04M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $11.28M USD 1 Quarter
Exploration ExplorationExpense $6.47M USD 1 Quarter
Exploration ExplorationExpense $8.73M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $175.50M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $147.42M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $21.64M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $22.53M USD 1 Quarter
TOTAL OPERATING EXPENSES OperatingExpenses $379.03M USD 1 Quarter
TOTAL OPERATING EXPENSES OperatingExpenses $314.03M USD 1 Quarter
Earnings (loss) on equity method investments IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Earnings (loss) on equity method investments IncomeLossFromEquityMethodInvestments $1.42M USD 1 Quarter
Gain (loss) on sale of assets GainLossOnSaleOfPropertyPlantEquipment $-1.28M USD 1 Quarter
Gain (loss) on sale of assets GainLossOnSaleOfPropertyPlantEquipment $138.00K USD 1 Quarter
INCOME FROM OPERATIONS OperatingIncomeLoss $87.30M USD 1 Quarter
INCOME FROM OPERATIONS OperatingIncomeLoss $194.49M USD 1 Quarter
Interest expense InterestIncomeExpenseNet $-23.57M USD 1 Quarter
Interest expense InterestIncomeExpenseNet $-16.56M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $63.73M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $177.93M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $70.90M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $23.47M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $107.03M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $40.26M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.10 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.26 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.26 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 413.34M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 416.90M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 414.77M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 418.51M shares 1 Quarter
Dividends per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.02 USD 1 Quarter
Dividends per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.02 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLossAvailableToCommonStockholdersBasic $107.03M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $40.26M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $175.50M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $147.42M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $57.60M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $15.08M USD 1 Quarter
(Gain) loss on sale of assets GainLossOnSaleOfPropertyPlantEquipment $-1.28M USD 1 Quarter
(Gain) loss on sale of assets GainLossOnSaleOfPropertyPlantEquipment $138.00K USD 1 Quarter
Exploration expense ResultsOfOperationsDryHoleCosts $162.00K USD 1 Quarter
Exploration expense ResultsOfOperationsDryHoleCosts $2.04M USD 1 Quarter
(Gain) loss on derivative instruments UnrealizedGainLossOnDerivatives $-3.56M USD 1 Quarter
(Gain) loss on derivative instruments UnrealizedGainLossOnDerivatives - USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $1.27M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $1.13M USD 1 Quarter
Stock-based compensation and other StockBasedCompensationExpenseAndOther $4.49M USD 1 Quarter
Stock-based compensation and other StockBasedCompensationExpenseAndOther $3.03M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInReceivables $-49.62M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInReceivables $23.42M USD 1 Quarter
Income taxes IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $8.98M USD 1 Quarter
Income taxes IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $-16.89M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-7.08M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $61.00K USD 1 Quarter
Other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.17M USD 1 Quarter
Other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $192.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-29.63M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-16.09M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-39.00K USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-1.93M USD 1 Quarter
Stock-based compensation tax benefit ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $16.04M USD 1 Quarter
Stock-based compensation tax benefit ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $3.44M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $267.38M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $255.38M USD 1 Quarter
Capital expenditures PaymentsToExploreAndDevelopOilAndGasProperties $395.24M USD 1 Quarter
Capital expenditures PaymentsToExploreAndDevelopOilAndGasProperties $338.70M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $3.08M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $108.00K USD 1 Quarter
Restricted cash DecreaseInRestrictedCash - USD 1 Quarter
Restricted cash DecreaseInRestrictedCash $8.38M USD 1 Quarter
Investment in equity method investments PaymentsToAcquireEquityMethodInvestments $5.08M USD 1 Quarter
Investment in equity method investments PaymentsToAcquireEquityMethodInvestments $5.94M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-397.24M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-336.15M USD 1 Quarter
Borrowings from debt ProceedsFromIssuanceOfLongTermDebt $366.00M USD 1 Quarter
Borrowings from debt ProceedsFromIssuanceOfLongTermDebt $382.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $291.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $257.00M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $8.33M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $8.26M USD 1 Quarter
Stock-based compensation tax benefit ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $16.04M USD 1 Quarter
Stock-based compensation tax benefit ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $3.44M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $90.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $2.68M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $122.85M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $82.80M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents NetCashProvidedByUsedInContinuingOperations $-7.01M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents NetCashProvidedByUsedInContinuingOperations $2.03M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $25.43M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $23.40M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $20.95M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $13.95M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $25.43M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $23.40M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $20.95M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $13.95M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLossAvailableToCommonStockholdersBasic $107.03M USD 1 Quarter
Reclassification adjustment for settled cash flow hedge contracts, income taxes OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $-28.21M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $40.26M USD 1 Quarter
Changes in fair value of cash flow hedge contracts, income taxes OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $53.13M USD 1 Quarter
Reclassification adjustment for settled cash flow hedge contracts OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-42.56M USD 1 Quarter
Reclassification adjustment for settled cash flow hedge contracts OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 1 Quarter
Changes in fair value of cash flow hedge contracts OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax - USD 1 Quarter
Changes in fair value of cash flow hedge contracts OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-80.17M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-37.61M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $69.42M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $40.26M USD 1 Quarter

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

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