Cobalt Annual Report 2015 - page 98

F-6
Cobalt International Energy, Inc.
Consolidated Statements of Operations
Year Ended December 31,
2015
2014
2013
($ in thousands except per share data)
Oil and gas revenue........................................................................................... $
— $
— $
Operating costs and expenses:
Seismic and exploration...............................................................................
45,318
41,431
49,847
Dry hole expense and impairment ...............................................................
308,960
133,223
224,105
General and administrative ..........................................................................
87,031
72,090
72,895
Accretion expense........................................................................................
99
Depreciation and amortization.....................................................................
1,403
1,694
1,328
Total operating costs and expenses ...................................................................
442,811
248,438
348,175
Operating income (loss)...............................................................................
(442,811)
(248,438)
(348,175)
Other income (expense):
Gain (loss) on sale of assets.........................................................................
1,555
2,996
Interest income ............................................................................................
6,087
5,958
6,043
Interest expense ...........................................................................................
(63,376)
(74,768)
(65,376)
Total other income (expense)............................................................................
(55,734)
(68,810)
(56,337)
Net income (loss) from continuing operations before income tax ....................
(498,545)
(317,248)
(404,512)
Income tax expense...........................................................................................
Net income (loss) from continuing operations ..................................................
(498,545)
(317,248)
(404,512)
Net income (loss) from discontinued operations, net of income tax .................
(195,881)
(193,515)
(184,512)
Net income (loss) .............................................................................................. $ (694,426) $
(510,763) $ (589,024)
Basic and diluted income (loss) per share from continuing operations............. $
(1.22) $
(0.78) $
(0.99)
Basic and diluted income (loss) per share from discontinued operations ......... $
(0.48) $
(0.47) $
(0.46)
Basic and diluted income (loss) per share......................................................... $
(1.70) $
(1.25) $
(1.45)
Basic and diluted weighted average common shares outstanding..................... 408,535,122 407,116,144 406,839,997
See accompanying notes.
1...,88,89,90,91,92,93,94,95,96,97 99,100,101,102,103,104,105,106,107,108,...136
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