Financial Statements for W&T Offshore, Inc.

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W&T Offshore, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-06-30	3 months ending 2012-03-31	3 months ending 2011-12-31	3 months ending 2011-09-30	3 months ending 2011-06-30
Revenue	215.51	235.89	261.90	245.37	252.92
Other Revenue, Total	-	-	-	-	-
Total Revenue	215.51	235.89	261.90	245.37	252.92
Cost of Revenue, Total	61.61	58.15	59.30	59.95	49.44
Gross Profit	153.90	177.74	202.59	185.42	203.48
Selling/General/Admin. Expenses, Total	18.73	33.70	32.40	30.36	21.80
Research & Development	-	-	-	-	-
Depreciation/Amortization	85.94	88.49	80.34	77.06	83.37
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	0.00	0.00	-	2.03	20.66
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	116.41	219.97	180.96	152.07	157.94
Operating Income	99.10	15.91	80.94	93.30	94.98
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	0.06	0.01	-
Income Before Tax	87.72	5.20	68.74	81.75	85.01
Income After Tax	53.57	3.22	46.06	52.93	55.17
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	53.57	3.22	46.06	52.93	55.17
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	53.57	3.22	46.06	52.93	55.17
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	52.38	3.19	46.06	51.81	54.00
Income Available to Common Incl. Extra Items	52.38	3.19	46.06	51.81	54.00
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	-
Diluted Weighted Average Shares	74.32	74.30	74.08	74.03	74.02
Diluted EPS Excluding Extraordinary Items	0.70	0.04	0.62	0.70	0.73
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.08	0.08	0.04	0.04	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	0.47	0.24	0.58	0.65	1.00

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Revenue	971.05	705.78	611.00	1,215.61
Other Revenue, Total	-	-	-	-
Total Revenue	971.05	705.78	611.00	1,215.61
Cost of Revenue, Total	223.48	170.86	205.47	238.57
Gross Profit	747.57	534.92	405.53	977.03
Selling/General/Admin. Expenses, Total	120.99	95.46	91.07	102.49
Research & Development	-	-	-	-
Depreciation/Amortization	299.01	268.42	308.08	482.46
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	22.69	0.00	221.80	1,182.76
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	664.28	538.99	833.78	2,022.75
Operating Income	306.77	166.79	-222.78	-807.14
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-	-	-	-
Income Before Tax	264.33	129.79	-262.03	-828.48
Income After Tax	172.82	117.89	-187.92	-558.82
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	172.82	117.89	-187.92	-558.82
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	172.82	117.89	-187.92	-558.82
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	169.61	116.71	-187.92	-558.82
Income Available to Common Incl. Extra Items	169.61	116.71	-187.92	-558.82
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	0.00	0.00
Diluted Weighted Average Shares	74.03	73.69	74.85	75.92
Diluted EPS Excluding Extraordinary Items	2.29	1.58	-2.51	-7.36
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.16	0.14	0.12	0.09
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	2.55	1.38	-0.07	2.77

In Millions of USD (except for per share items)	As of 2012-06-30	As of 2012-03-31	As of 2011-12-31	As of 2011-09-30	As of 2011-06-30
Cash & Equivalents	8.55	8.51	4.51	7.67	8.71
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	8.55	8.51	4.51	7.67	8.71
Accounts Receivable - Trade, Net	93.84	116.64	124.35	101.02	102.83
Receivables - Other	-	-	-	-	-
Total Receivables, Net	105.87	116.64	124.35	102.69	109.75
Total Inventory	-	-	-	-	-
Prepaid Expenses	54.11	22.14	30.32	45.55	44.15
Other Current Assets, Total	30.76	11.00	2.01	0.00	0.00
Total Current Assets	199.30	158.30	161.19	155.90	162.61
Property/Plant/Equipment, Total - Gross	6,110.23	6,038.21	5,978.52	5,874.97	5,723.65
Accumulated Depreciation, Total	-4,484.50	-4,403.42	-4,320.41	-4,240.07	-4,163.01
Goodwill, Net	-	-	-	-	-
Intangibles, Net	-	-	-	-	-
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	47.78	49.25	49.63	50.40	49.22
Total Assets	1,872.82	1,842.34	1,868.92	1,841.20	1,772.46
Accounts Payable	86.22	64.99	75.87	81.00	65.64
Accrued Expenses	15.98	55.05	29.70	30.29	23.33
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-	43.85
Other Current liabilities, Total	147.90	140.83	182.31	170.24	146.49
Total Current Liabilities	250.10	260.87	287.88	281.53	279.30
Long Term Debt	680.00	684.00	717.00	694.00	675.00
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	680.00	684.00	717.00	694.00	675.00
Total Debt	680.00	684.00	717.00	694.00	718.85
Deferred Income Tax	91.91	70.43	58.88	45.44	24.81
Minority Interest	-	-	-	-	-
Other Liabilities, Total	255.64	282.63	260.58	274.23	300.08
Total Liabilities	1,277.65	1,297.92	1,324.35	1,295.20	1,279.19
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	0.00	0.00	0.00	0.00	0.00
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	393.23	389.63	386.92	383.97	381.19
Retained Earnings (Accumulated Deficit)	226.10	178.95	181.82	186.20	136.25
Treasury Stock - Common	-24.17	-24.17	-24.17	-24.17	-24.17
Other Equity, Total	-	-	-	-	-
Total Equity	595.17	544.42	544.57	546.00	493.27
Total Liabilities & Shareholders' Equity	1,872.82	1,842.34	1,868.92	1,841.20	1,772.46
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	77.22	74.35	74.35	74.46	74.47

In Millions of USD (except for per share items)	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31	As of 2008-12-31
Cash & Equivalents	4.51	28.66	38.19	357.55
Short Term Investments	-	-	-	-
Cash and Short Term Investments	4.51	28.66	38.19	357.55
Accounts Receivable - Trade, Net	123.64	105.33	106.29	119.73
Receivables - Other	-	-	-	-
Total Receivables, Net	124.35	106.34	222.29	155.84
Total Inventory	-	-	-	-
Prepaid Expenses	30.32	23.43	28.78	30.42
Other Current Assets, Total	2.01	5.78	0.00	-
Total Current Assets	161.19	164.21	289.25	543.81
Property/Plant/Equipment, Total - Gross	5,978.52	5,241.42	4,747.78	4,699.10
Accumulated Depreciation, Total	-4,320.41	-4,021.39	-3,752.98	-3,217.76
Goodwill, Net	-	-	-	-
Intangibles, Net	-	-	-	-
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	49.63	39.86	42.78	31.03
Total Assets	1,868.92	1,424.09	1,326.83	2,056.19
Accounts Payable	75.87	80.44	115.68	228.90
Accrued Expenses	29.70	25.83	13.51	18.25
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	0.00	3.00
Other Current liabilities, Total	182.31	135.37	154.75	96.72
Total Current Liabilities	287.88	241.64	283.95	346.88
Long Term Debt	717.00	450.00	450.00	650.17
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	717.00	450.00	450.00	650.17
Total Debt	717.00	450.00	450.00	653.17
Deferred Income Tax	58.88	0.00	-	0.00
Minority Interest	-	-	-	-
Other Liabilities, Total	260.58	310.71	233.94	486.91
Total Liabilities	1,324.35	1,002.35	967.88	1,483.96
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	0.00	0.00	-	-
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	386.92	377.53	373.05	372.60
Retained Earnings (Accumulated Deficit)	181.82	68.38	10.07	200.27
Treasury Stock - Common	-24.17	-24.17	-24.17	0.00
Other Equity, Total	-	-	0.00	-0.64
Total Equity	544.57	421.74	358.95	572.23
Total Liabilities & Shareholders' Equity	1,868.92	1,424.09	1,326.83	2,056.19
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	74.35	74.47	74.71	76.29

In Millions of USD (except for per share items)	6 months ending 2012-06-30	3 months ending 2012-03-31	12 months ending 2011-12-31	9 months ending 2011-09-30
Net Income/Starting Line	56.78	3.22	172.82	126.75
Depreciation/Depletion	174.43	88.49	328.79	241.92
Amortization	-	-	-	-
Deferred Taxes	48.12	2.55	61.84	59.44
Non-Cash Items	-9.22	37.08	22.64	10.48
Changes in Working Capital	-28.80	-3.18	-64.61	-42.54
Cash from Operating Activities	241.32	128.16	521.48	396.05
Capital Expenditures	-187.95	-85.13	-285.44	-185.54
Other Investing Cash Flow Items, Total	-0.31	-	-437.23	-434.57
Cash from Investing Activities	-188.26	-85.13	-722.67	-620.11
Financing Cash Flow Items	-0.12	-0.09	-31.19	-32.00
Total Cash Dividends Paid	-11.90	-5.95	-58.76	-8.94
Issuance (Retirement) of Stock, Net	-	-	0.00	-
Issuance (Retirement) of Debt, Net	-37.00	-33.00	267.00	244.00
Cash from Financing Activities	-49.02	-39.03	177.05	203.07
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	4.04	4.00	-24.14	-20.99
Cash Interest Paid, Supplemental	-	-	39.77	-
Cash Taxes Paid, Supplemental	-	-	35.66	-

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Net Income/Starting Line	172.82	117.89	-187.92	-558.82
Depreciation/Depletion	328.79	294.10	345.64	521.78
Amortization	-	-	-	-
Deferred Taxes	61.84	-8.27	-0.35	-249.44
Non-Cash Items	22.64	12.00	231.60	1,178.87
Changes in Working Capital	-64.61	49.05	-232.70	-9.88
Cash from Operating Activities	521.48	464.77	156.27	882.50
Capital Expenditures	-285.44	-179.47	-274.42	-663.14
Other Investing Cash Flow Items, Total	-437.23	-235.52	36.72	-110.72
Cash from Investing Activities	-722.67	-414.99	-237.70	-773.86
Financing Cash Flow Items	-31.19	0.30	0.89	-2.13
Total Cash Dividends Paid	-58.76	-59.61	-9.16	-60.00
Issuance (Retirement) of Stock, Net	0.00	0.00	-24.17	-
Issuance (Retirement) of Debt, Net	267.00	0.00	-205.50	-3.00
Cash from Financing Activities	177.05	-59.31	-237.93	-65.13
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-24.14	-9.53	-319.37	43.50
Cash Interest Paid, Supplemental	39.77	36.36	37.29	31.23
Cash Taxes Paid, Supplemental	35.66	12.00	0.10	26.59