CJ 2017 Annual Report

69 C&J ENERGY SERVICES, INC. AND SUBSIDIARIES C ONSOLIDATED B ALANCE S HEETS (Amounts in thousands, except share data) Successor Predecessor December 31, 2017 December 31, 2016 ASSETS Current assets: Cash and cash equivalents $ 113,887 $ 64,583 Accounts receivable, net of allowance of $4,269 at December 31, 2017 and $2,951 at December 31, 2016 367,906 137,084 Inventories, net 77,793 54,471 Prepaid and other current assets 33,011 37,611 Deferred tax assets — 6,020 Total current assets 592,597 299,769 Property, plant and equipment, net of accumulated depreciation of $133,755 at December 31, 2017 and $683,189 at December 31, 2016 703,029 950,811 Other assets: Goodwill 147,515 — Intangible assets, net 123,837 76,057 Deferred financing costs, net of accumulated amortization of $608, as of December 31, 2017 3,379 — Other noncurrent assets 38,500 35,045 Total assets $ 1,608,857 $ 1,361,682 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable $ 138,624 $ 74,382 Payroll and related costs 52,812 17,991 Accrued expenses 66,547 60,363 DIP Facility — 25,000 Other current liabilities 867 2,980 Total current liabilities 258,850 180,716 Deferred tax liabilities 3,917 15,613 Other long-term liabilities 24,668 18,577 Total liabilities not subject to compromise 287,435 214,906 Liabilities subject to compromise — 1,445,346 Commitments and contingencies Stockholders’ equity Predecessor common shares, par value of $0.01, 750,000,000 shares authorized, 119,529,942 issued and outstanding at December 31, 2016 — 1,195 Predecessor additional paid-in capital — 1,009,426 Successor common stock, par value of $0.01, 1,000,000,000 shares authorized, 68,546,820 issued and outstanding at December 31, 2017 686 — Successor additional paid-in capital 1,298,859 — Accumulated other comprehensive loss (580) (2,600) Retained earnings (deficit) 22,457 (1,306,591) Total stockholders’ equity (deficit) 1,321,422 (298,570) Total liabilities and stockholders’ equity (deficit) $ 1,608,857 $ 1,361,682 See accompanying notes to consolidated financial statements