v3.26.3
Acquisitions and Dispositions - Parker Acquisition (Tables)
9 Months Ended
Sep. 30, 2026
Acquisitions and Dispositions  
Schedule of fair value of assets acquired and liabilities assumed

The table below presents the allocation of the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting gain on bargain purchase as of the closing date:

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Fair Value

 

(In thousands)

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at Acquisition

 

Assets:

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Cash and cash equivalents

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$

84,995

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Accounts receivable

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132,084

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Inventory

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4,576

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Other current assets

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37,664

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Property, plant and equipment

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264,500

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Deferred income taxes

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64,103

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Other assets

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43,910

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Total assets acquired

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631,832

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Liabilities:

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Trade accounts payable

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$

43,774

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Accrued liabilities

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66,808

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Income taxes payable

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4,148

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Other short-term liabilities

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6,462

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Long-term debt

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177,755

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Deferred income taxes

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2,594

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Other liabilities

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36,076

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Total liabilities assumed

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337,617

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Net assets acquired

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294,215

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Gain on bargain purchase

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113,653

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Total consideration transferred

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$

180,562

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Schedule of selected financial information on a proforma basis

The following table summarizes our selected financial information on a pro forma basis:

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Three Months Ended

 

Nine Months Ended

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September 30,

 

September 30,

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2025

 

2025

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(In thousands)

Operating revenues (1)

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$

818,190

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$

2,490,283

Net income (loss) (2)

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302,466

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270,034

(1)Includes operating revenue from Quail Tools of $34.2 million and $154.8 million for the three and nine months ended September 30, 2025 respectively.

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(2)Net income (loss) for the three and nine months ended September 30, 2025 includes the gain on disposition of Quail Tools of $415.6 million.

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