Shelf Drilling Ltd. 2022 Form 10K Equivalent.pdf
Cover
Contents
Forward-Looking Statements
Part I
Item 1. Business
Item 1A. Risk Factors
Item 1B. Unresolved Staff Comments
Item 2. Properties
Item 3. Legal Proceedings
Item 4. Mine Safety Disclosures
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 6. [Reserved]
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Overview
Outlook
Operational Measures
Financial Measures
Operating Results for the Year Ended December 31, 2022 Compared to the Year Ended December 31, 2021
Liquidity and Capital Resources
Material Cash Requirements
Certain financial information of SDL and SDHL
Off Balance Sheet Arrangements
Critical Accounting Policies and Estimates
New Accounting Pronouncements
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Item 8. Financial Statements and Supplementary Data
Item 9. Changes and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9A. Controls and Procedures
Item 9B. Other Information
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Part III
Item 10. Directors, Executive Officers and Corporate Governance
Item 11. Executive Compensation
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholders Matters
Item 13. Certain Relationships and Related Transactions, and Director Independence
Item 14. Principal Accounting Fee and Services
Part IV
Item 15. Exhibit and Financial Statement Schedules
Consolidated Financial Statements
Index
Consolidated Statements of Operations
Consolidated Statements of Comprehensive Income (loss)
Consolidated Balance Sheets
Consolidated Statements of Equity
Consolidated Statements of Cash Flows
Notes to the Consolidated Financial Statements
Note 1 – Nature of Business
Note 2 – Significant Accounting Policies
Note 3 – Recently Issued Accounting Pronouncements
Note 4 - Acquisition
Note 5 – Revenues, Contract Liabilities and Deferred Contract Costs and Allowance for Credit Losses
Note 6 – Intangible Liability
Note 7 – Variable Interest Entities
Note 8 – Property and Equipment
Note 9 – Assets Held for Sale
Note 10 – Leases
Note 11 – Loss on Impairment of Assets
Note 12 – Income Taxes
Note 13 – Debt
Note 14 – Employee Benefit Plans
Note 15 – Commitments and Contingencies
Note 16 – Fair Value of Financial Instruments
Note 17 – Interest Rate, Foreign Currency and Credit Risk
Note 18 – Shareholders’ Equity
Note 19 – Share-based Compensation
Note 20 – Derivative Financial Instruments
Note 21 – Supplemental Balance Sheet Information
Note 22 – Supplemental Cash Flow Information
Note 23 – Earnings / (Loss) Per Share
Note 24 – Segment and Related Information
Note 25 – Related Parties
Note 26 – Subsequent Events
Shelf Drilling Annual R
eport 2022
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2022
