Forbes Energy Services Ltd.: 10-K filed 2013-04-01

Name: Forbes Energy Services Ltd.: 10-K filed 2013-04-01
Creator: Forbes Energy Services Ltd.
License: https://creativecommons.org/licenses/by/4.0/

What Forbes Energy Services Ltd. reported in its annual report filed 2013-04-01 (fiscal FY 2012): 47 published measures, 138 facts as tagged in accession 0001434842-13-000003.

This filing

Form: 10-K (annual report)
Filed: 2013-04-01
Fiscal period: fiscal FY 2012
Accession: 0001434842-13-000003 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; a measure with a published history links to it, and the history shows the latest-filed value per period. All Forbes Energy Services Ltd. filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

Period	Value	Unit	Days
At 2012-12-31	512,661,867	USD
At 2011-12-31	550,423,053	USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

Period	Value	Unit	Days
At 2012-12-31	365,975,703	USD
At 2011-12-31	410,165,911	USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

Period	Value	Unit
At 2012-12-31	132,167,897	USD
At 2011-12-31	125,780,359	USD
At 2010-12-31	136,795,397	USD
At 2009-12-31	146,507,477	USD

Cash and cash equivalents

Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.

Period	Value	Unit
At 2012-12-31	17,618,900	USD
At 2011-12-31	36,600,091	USD
At 2010-12-31	30,458,457	USD
At 2009-12-31	28,425,367	USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	1,586,181	USD	366
2011-01-01 to 2011-12-31	-12,344,687	USD	365
2010-01-01 to 2010-12-31	-11,309,918	USD	365

Operating cash flow

Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	68,434,365	USD	366
2011-01-01 to 2011-12-31	5,999,427	USD	365
2010-01-01 to 2010-12-31	2,449,109	USD	365

Capital expenditure payments

Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	111,769,771	USD	366
2011-01-01 to 2011-12-31	58,205,581	USD	365
2010-01-01 to 2010-12-31	6,951,297	USD	365

Financing cash flow

Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	-5,250,182	USD	366
2011-01-01 to 2011-12-31	52,075,726	USD	365
2010-01-01 to 2010-12-31	5,361,681	USD	365

Investing cash flow

Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	-82,597,356	USD	366
2011-01-01 to 2011-12-31	-50,936,890	USD	365
2010-01-01 to 2010-12-31	-5,753,726	USD	365

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

Period	Value	Unit	Days
At 2012-12-31	-60,277,812	USD
At 2011-12-31	-61,863,993	USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	21,061,640	shares	366
2011-01-01 to 2011-12-31	20,918,417	shares	365
2010-01-01 to 2010-12-31	20,918,417	shares	365

Diluted weighted-average shares

Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	21,340,253	shares	366
2011-01-01 to 2011-12-31	20,918,417	shares	365
2010-01-01 to 2010-12-31	20,918,417	shares	365

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

Period	Value	Unit	Days
2012-10-01 to 2012-12-31	-0.22	USD/shares	92
2012-07-01 to 2012-09-30	-0.07	USD/shares	92
2012-04-01 to 2012-06-30	0.12	USD/shares	91
2012-01-01 to 2012-03-31	0.24	USD/shares	91
2011-10-01 to 2011-12-31	0.25	USD/shares	92
2011-07-01 to 2011-09-30	0.11	USD/shares	92
2011-04-01 to 2011-06-30	-1.22	USD/shares	91
2011-01-01 to 2011-03-31	-0.04	USD/shares	90

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

Period	Value	Unit	Days
2012-10-01 to 2012-12-31	-0.22	USD/shares	92
2012-07-01 to 2012-09-30	-0.07	USD/shares	92
2012-04-01 to 2012-06-30	0.1	USD/shares	91
2012-01-01 to 2012-03-31	0.2	USD/shares	91
2011-10-01 to 2011-12-31	0.2	USD/shares	92
2011-07-01 to 2011-09-30	0.1	USD/shares	92
2011-04-01 to 2011-06-30	-1.22	USD/shares	91
2011-01-01 to 2011-03-31	-0.04	USD/shares	90

Income tax expense or benefit

Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	3,359,101	USD	366
2011-01-01 to 2011-12-31	-4,676,774	USD	365
2010-01-01 to 2010-12-31	-8,157,006	USD	365

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

Period	Value	Unit	Days
At 2012-12-31	348,441,432	USD
At 2011-12-31	285,944,684	USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	4,430,235	USD	366
2011-01-01 to 2011-12-31	2,936,890	USD	365
2010-01-01 to 2010-12-31	2,696,952	USD	365

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

Period	Value	Unit	Days
2012-10-01 to 2012-12-31	348,417	USD	92
2012-01-01 to 2012-12-31	33,533,036	USD	366
2012-07-01 to 2012-09-30	5,297,121	USD	92
2012-04-01 to 2012-06-30	12,437,574	USD	91
2012-01-01 to 2012-03-31	15,449,924	USD	91
2011-10-01 to 2011-12-31	18,078,506	USD	92
2011-01-01 to 2011-12-31	39,498,231	USD	365
2011-07-01 to 2011-09-30	11,016,223	USD	92
2011-04-01 to 2011-06-30	3,090,750	USD	91
2011-01-01 to 2011-03-31	7,312,752	USD	90
2010-01-01 to 2010-12-31	4,570,222	USD	365

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

Period	Value	Unit	Days
At 2012-12-31	125,614,508	USD
At 2011-12-31	183,806,774	USD

Interest expense

Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	28,033,466	USD	366
2011-01-01 to 2011-12-31	27,454,417	USD	365
2010-01-01 to 2010-12-31	27,270,980	USD	365

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

Period	Value	Unit	Days
At 2012-12-31	46,067,511	USD
At 2011-12-31	97,041,057	USD

Current accounts payable

Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.

Period	Value	Unit	Days
At 2012-12-31	18,016,470	USD
At 2011-12-31	50,569,454	USD

Net finite-lived intangible assets

Finite-lived intangible assets after amortization. This excludes goodwill and should not be combined with indefinite-lived intangible assets without checking scope.

Period	Value	Unit	Days
At 2012-12-31	28,015,133	USD
At 2011-12-31	30,876,389	USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

Period	Value	Unit	Days
At 2012-12-31	92,596,279	USD
At 2011-12-31	132,024,147	USD

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	439,063,856	USD	366
2011-01-01 to 2011-12-31	406,284,407	USD	365
2010-01-01 to 2010-12-31	283,581,254	USD	365

Common shares outstanding

Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.

Period	Value	Unit	Days
At 2012-12-31	21,092,609	shares
At 2011-12-31	20,918,417	shares

Additional paid-in capital

Capital contributed above par value under this concept. It records historical contributions, not the current value of the equity or cash on hand.

Period	Value	Unit	Days
At 2012-12-31	191,602,004	USD
At 2011-12-31	187,885,293	USD

Accumulated other comprehensive income or loss

Cumulative other comprehensive items after tax, such as translation and unrealized hedging or securities effects. These amounts have not passed through net income.

Period	Value	Unit	Days
At 2012-12-31	0	USD
At 2011-12-31	-1,077,678	USD

Long-term debt

Long-term borrowings under this concept, which can include the current portion depending on presentation. It is not total liabilities and may exclude leases and other obligations.

Period	Value	Unit	Days
At 2012-12-31	306,347,167	USD
At 2011-12-31	296,150,274	USD

Gross property, plant and equipment

Cost of property, plant and equipment before accumulated depreciation. Historical cost does not indicate current value or replacement cost.

Period	Value	Unit	Days
At 2012-12-31	542,038,615	USD
At 2011-12-31	436,078,996	USD

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

Period	Value	Unit	Days
At 2012-12-31	193,597,183	USD
At 2011-12-31	150,134,312	USD

Net intangible assets excluding goodwill

Intangible assets other than goodwill after amortization and impairment. Internally developed intangibles are usually not recognized, so this understates what a company relies on.

Period	Value	Unit	Days
At 2012-12-31	28,015,133	USD
At 2011-12-31	30,876,389	USD

Other noncurrent assets

Noncurrent assets the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit	Days
At 2012-12-31	1,111,334	USD
At 2011-12-31	30,876	USD

Other noncurrent liabilities

Noncurrent liabilities the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit	Days
At 2011-12-31	34,673,184	USD

Accrued current liabilities

Current obligations accrued for goods and services received but not yet invoiced or paid. This is one component of current liabilities, not all short-term obligations.

Period	Value	Unit	Days
At 2012-12-31	13,538,306	USD
At 2011-12-31	19,752,868	USD

Prepaid expenses and other current assets

Prepayments and other current assets grouped under this concept. The balance is not cash and its composition differs by filer.

Period	Value	Unit	Days
At 2011-12-31	10,284,645	USD

Net deferred tax assets

Deferred tax assets after the valuation allowance. Realization depends on future taxable income, so the balance is not a receivable from tax authorities.

Period	Value	Unit	Days
At 2012-12-31	33,372,189	USD
At 2011-12-31	40,984,385	USD

Comprehensive income or loss

Net income plus other comprehensive income after tax. It includes unrealized items that net income excludes and is not a cash measure.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	2,663,859	USD	366
2011-01-01 to 2011-12-31	-13,765,339	USD	365
2010-01-01 to 2010-12-31	-10,966,944	USD	365

Net income available to common stockholders

Net income after preferred dividends and similar adjustments, the numerator for basic earnings per share. It can be lower than reported net income.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	809,625	USD	366
2011-01-01 to 2011-12-31	-12,531,276	USD	365
2010-01-01 to 2010-12-31	-12,350,611	USD	365

General and administrative expense

General and administrative costs reported under this concept, separate from selling expense. Filers group overhead differently, so compare presentation before comparing companies.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	33,382,501	USD	366
2011-01-01 to 2011-12-31	31,317,863	USD	365
2010-01-01 to 2010-12-31	20,039,405	USD	365

Depreciation expense

Depreciation recognized for the period under this concept. It is a noncash allocation of asset cost and may exclude amortization and depletion reported elsewhere.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	48,100,000	USD	366
2011-01-01 to 2011-12-31	36,800,000	USD	365
2010-01-01 to 2010-12-31	35,400,000	USD	365

Depreciation, depletion and amortization

Combined depreciation, depletion and amortization for the period. A noncash allocation of asset cost, not a measure of maintenance spending.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	50,996,689	USD	366
2011-01-01 to 2011-12-31	39,659,523	USD	365
2010-01-01 to 2010-12-31	38,299,074	USD	365

Amortization of intangible assets

Amortization recognized on finite-lived intangible assets. It follows acquisition accounting and does not indicate the intangibles are losing usefulness at that rate.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	2,900,000	USD	366
2011-01-01 to 2011-12-31	2,900,000	USD	365
2010-01-01 to 2010-12-31	2,900,000	USD	365

Nonoperating income or expense

Total nonoperating income or expense, which can include interest, investment results and other items. A positive value is not operating profit.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	0	USD	366
2011-01-01 to 2011-12-31	69,104	USD	365
2010-01-01 to 2010-12-31	-8,955	USD	365

Current income tax expense or benefit

Income tax expense or benefit for the period that is currently payable or refundable. It differs from cash taxes paid and from total tax expense.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	1,166,010	USD	366
2011-01-01 to 2011-12-31	883,579	USD	365
2010-01-01 to 2010-12-31	435,642	USD	365

Deferred income tax expense or benefit

The deferred portion of income tax expense or benefit, arising from timing differences. It is not tax paid in the period.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	2,193,091	USD	366
2011-01-01 to 2011-12-31	-5,560,353	USD	365
2010-01-01 to 2010-12-31	-8,592,648	USD	365

Change in accounts receivable

The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.

Period	Value	Unit	Days
2012-01-01 to 2012-12-31	-41,654,782	USD	366
2011-01-01 to 2011-12-31	51,739,441	USD	365
2010-01-01 to 2010-12-31	30,619,696	USD	365

Inspect the source

Entity: Forbes Energy Services Ltd. / CIK 0001434842
Captured: 2026-09-22 19:47 UTC
SEC response SHA-256: a2d973c59b79e30ca9770633f87c38c46a05c56035c2bbc80f9eaf4c5b943422

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