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Independence Contract Drilling (Independence Contract Drilling) Property, Plant and Equipment : $348.2 Mil (As of Dec. 2023)


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What is Independence Contract Drilling Property, Plant and Equipment?

Independence Contract Drilling's quarterly net PPE declined from Jun. 2023 ($372.2 Mil) to Sep. 2023 ($366.3 Mil) and declined from Sep. 2023 ($366.3 Mil) to Dec. 2023 ($348.2 Mil).

Independence Contract Drilling's annual net PPE increased from Dec. 2021 ($362.3 Mil) to Dec. 2022 ($376.1 Mil) but then declined from Dec. 2022 ($376.1 Mil) to Dec. 2023 ($348.2 Mil).


Independence Contract Drilling Property, Plant and Equipment Historical Data

The historical data trend for Independence Contract Drilling's Property, Plant and Equipment can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Independence Contract Drilling Property, Plant and Equipment Chart

Independence Contract Drilling Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Property, Plant and Equipment
Get a 7-Day Free Trial Premium Member Only Premium Member Only 457.53 382.24 362.35 376.08 348.19

Independence Contract Drilling Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Property, Plant and Equipment Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 376.08 378.70 372.23 366.26 348.19

Independence Contract Drilling Property, Plant and Equipment Calculation

Property, Plant and Equipment (PPE) are the fixed assets of the companyFixed assets are also known as non-current assets.

Property, plant, and equipment includes assets that will - in the normal course of business - neither be used up in the next year nor will become a part of any product sold to customers.

Some of the most common parts of property, plant, and equipment are:


Land
Buildings (and leasehold improvements)
Transportation equipment
Manufacturing equipment
Office equipment
Office furniture

Companies with lots of property, plant, and equipment often have special categories. For example, railroad property includes:


Track
Ties
Ballast
Bridges
Tunnels
Signals
Locomotives
Freight Cars

There is often a note in the financial statements - found in a company's 10-K - that will explain the different categories of property a company owns.

The market value of property, plant, and equipment can differ tremendously from the book value of property, plant, and equipment.

For example, when Berkshire Hathaway liquidated its textile mills, it had to pay the buyers of the company's manufacturing equipment to haul the equipment away. That property, plant, and equipment was literally worth less than zero. On the other hand, some companies own thousands of acres of land.

All property, plant, and equipment other than land is depreciated. Land is never depreciated. However, land is not marked up to market value either. Under Generally Accepted Accounting Principles (GAAP), land is shown on the balance sheet at cost.

The property, plant, and equipment line shown on the balance sheet is usually net property, plant, and equipment. This means it is the cost of the property, plant, and equipment less accumulated depreciation.


Independence Contract Drilling  (NYSE:ICD) Property, Plant and Equipment Explanation

A company with durable competitive advantage doesn't need to constantly upgrade its equipment to stay competitive. The company replaces when it wears out. On the other hand, a company without any advantages must replace to keep pace.

Difference between a company with a moat and one without is that the company with the competitive advantage finances new equipment through internal cash flows, whereas the no advantage company requires debt to finance.

Producing a consistent product that doesn't change equates to consistent profits. There is no need to upgrade plants which frees up cash for other ventures. Think Coca Cola, Johnson & Johnson etc.


Independence Contract Drilling Property, Plant and Equipment Related Terms

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Independence Contract Drilling (Independence Contract Drilling) Business Description

Traded in Other Exchanges
N/A
Address
20475 State Highway 249, Suite 300, Houston, TX, USA, 77070
Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers. The company constructs its own and operates a premium land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. The company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as various small to mid-sized publicly traded and privately held oil and gas companies.
Executives
Brian Berman director 20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Msd Capital L P 10 percent owner 1 VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017-5407
Msd Credit Opportunity Master Fund, L.p. director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Pcof Partners Lxxiii, Llc director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Private Credit Opportunity (non-eci) Fund, Llc director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Michael S Dell 10 percent owner C/O DELL INC., ONE DELL WAY, ROUND ROCK TX 78682-2244
Msd Energy Investments, L.p. 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Partners, L.p. director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
William Monroe 10 percent owner C/O HIGIER ALLEN & LAUTIN, P.C., 2711 N. HASKELL AVE., SUITE 2400, DALLAS TX 75204
James Minmier director 777 N.W. 63RD ST., OKLAHOMA CITY OK 73116
Daniel F Mcnease director 2800 POST OAK BLVD, STE 5450, HOUSTON TX 77056-6127
Barrett Robert J. Iv director 20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Vincent J Cebula director 1301 AVENUE OF THE AMERICAS, 34 TH FLOOR, NEW YORK NY 10019
Christopher Gleysteen director ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Scott A. Keller officer: SVP - SALES AND MARKETING 20475 SH 249, SUITE 300, HOUSTON TX 77070

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