EX-99 5 exh99-4n.htm

EXHIBIT 99.4

           
             

ATWOOD OCEANICS, INC. AND SUBSIDIARIES

           

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

           

(In thousands)

           
             
       

Mar 31, 2008

 

Sep 30, 2007

             

ASSETS

           
             

CURRENT ASSETS:

           

Cash and cash equivalents

     

$ 99,206

 

$ 100,361

Accounts receivable, net of an allowance

           

of $814 and $164 at March 31, 2008

           

and September 30, 2007, respectively

     

84,026

 

76,597

Income tax receivable

     

1,200

 

1,870

Inventories of materials and supplies

     

31,802

 

26,721

Deferred tax assets

     

-

 

390

Prepaid expenses and deferred costs

     

6,342

 

10,240

Total Current Assets

     

222,576

 

216,179

             

NET PROPERTY AND EQUIPMENT

     

608,489

 

493,851

             

DEFERRED COSTS AND OTHER ASSETS

     

6,496

 

7,694

       

$ 837,561

 

$ 717,724

             

LIABILITIES AND SHAREHOLDERS' EQUITY

           
             

CURRENT LIABILITIES:

           

Current maturities of notes payable

     

$ -

 

$ 18,000

Accounts payable

     

14,890

 

11,769

Accrued liabilities

     

35,341

 

27,861

Total Current Liabilities

     

50,231

 

57,630

             

LONG-TERM DEBT,

           

net of current maturities:

     

50,000

 

-

       

50,000

 

-

LONG TERM LIABILITIES:

           

Deferred income taxes

     

12,629

 

14,729

Deferred credits

     

15,617

 

24,093

Other

     

7,799

 

5,417

       

36,045

 

44,239

             

SHAREHOLDERS' EQUITY:

           

Preferred stock, no par value;

           

1,000 shares authorized, none outstanding

     

-

 

-

Common stock, $1 par value, 90,000 shares

           

authorized with 31,859 and 31,675 issued

           

and outstanding at March 31, 2008

           

and September 30, 2007, respectively

     

31,859

 

31,675

Paid-in capital

     

139,705

 

133,224

Retained earnings

     

529,721

 

450,956

Total Shareholders' Equity

     

701,285

 

615,855

       

$ 837,561

 

$ 717,724