57
Equity Compensation Plan
For information on securities authorized under our equity compensation plans, see the section entitled “Executive
Compensation—Equity Compensation Plan Information” in our definitive Proxy Statement for our annual meeting of stockholders to
be held on April 28, 2016.
Item 6.
Selected Financial Data
The selected historical financial information set forth below should be read in conjunction with “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and with our financial statements and the notes to those financial
statements included elsewhere in this Annual Report on Form 10-K. The consolidated statements of operations information for the
years ended December 31, 2015, 2014, 2013, 2012, and 2011 were derived from Cobalt International Energy, Inc.’s audited financial
statements.
Consolidated Statement of Operations Information:
Year Ended December 31,
2015
2014
2013
2012
2011
($ in thousands except per share data)
Oil and gas revenue.................................................$
— $
— $
— $
— $
—
Operating costs and expenses
Seismic and exploration.....................................
45,318
41,431
49,847
34,238
13,655
Dry hole expense and impairment .....................
308,960
133,223
224,105
134,085
23,323
General and administrative ................................
87,031
72,090
72,895
63,592
45,776
Accretion expense..............................................
99
—
—
Depreciation and amortization...........................
1,403
1,694
1,328
967
653
Total operating costs and expenses .........................
442,811
248,438
348,175
232,882
83,407
Operating income (loss) ..........................................
(442,811)
(248,438)
(348,175)
(232,882)
(83,407)
Other income (expense):
Gain (loss) on sale of assets...............................
1,555
—
2,996
—
—
Interest income ..................................................
6,087
5,958
6,043
5,041
4,194
Interest expense .................................................
(63,376)
(74,768)
(65,376)
(3,212)
—
Total other income (expense)..................................
(55,734)
(68,810)
(56,337)
1,829
4,194
Net income (loss) from continuing operations
before income tax....................................................
(498,545)
(317,248)
(404,512)
(231,053)
(79,213)
Income tax expense (benefit)(1)..............................
—
—
—
—
—
Net income (loss) from continuing operations ........$
(498,545) $ (317,248) $ (404,512) $
(231,053) $
(79,213)
Net income (loss) from discontinued operations,
net of income tax.....................................................
(195,881)
(193,515)
(184,512)
(51,946)
(54,424)
Net income (loss) ....................................................
(694,426)
(510,763)
(589,024)
(282,999)
(133,637)
Basic and diluted income (loss) per share from
continuing operations ..............................................$
(1.22) $
(0.78) $
(0.99) $
(0.57) $
(0.21)
Basic and diluted income (loss) per share from
discontinued operations...........................................$
(0.48) $
(0.47) $
(0.46) $
(0.13) $
(0.14)
Basic and diluted income (loss) per share...............$
(1.70) $
(1.25) $
(1.45) $
(0.70) $
(0.35)
Basic and diluted weighted average common
shares outstanding ................................................... 408,535,122 407,116,144 406,839,997 403,356,174 376,603,520
(1) No income tax benefit has been reflected since a full valuation allowance has been established against the deferred tax asset that
would have been generated as a result of the operating results.
