Atwood Oceanics (ATW) 8-K Results of Operations and Financial Condition

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
	December 31,		September 30,
	2009		2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	187,205	$	100,259
Accounts receivable, net of an allowance
of $65 at December 31, 2009
and $65 at September 30, 2009		106,027		124,053
Income tax receivable		11,927		8,306
Insurance receivable		1,538		2,518
Inventories of materials and supplies, net		50,584		50,136
Deferred tax assets		35		35
Prepaid expenses and deferred costs		15,572		19,297
Total Current Assets		372,888		304,604
NET PROPERTY AND EQUIPMENT		1,222,483		1,184,300
		1,222,483		1,184,300
LONG TERM ASSETS:
Other Receivables		14,331		14,331
Deferred costs and other assets		5,856		6,167
		20,187		20,498
	$	1,615,558	$	1,509,402
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	50,510	$	19,066
Accrued liabilities		65,402		58,027
Deferred credits		36,779		35,825
Total Current Liabilities		152,691		112,918
LONG-TERM DEBT,
net of current maturities:		275,000		275,000
LONG TERM LIABILITIES:
Deferred income taxes		2,849		6,082
Deferred credits		1,842		2,921
Other		10,937		10,188
		15,628		19,191
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, no par value;
1,000 shares authorized,  none outstanding		-		-
Common stock, $1 par value, 90,000 shares
authorized with 64,385 and 64,236 issued
and outstanding at December 31, 2009
and September 30, 2009, respectively		64,385		64,236
Paid-in capital		125,270		122,457
Retained earnings		982,584		915,600
Total Shareholders' Equity		1,172,239		1,102,293
	$	1,615,558	$	1,509,402