Interactive 2009 Annual Report (PDF 7.56 MB) - Denbury Resources ...

Denbury Resources Inc. 2009 Annual Report 71Consolidated Statements of OperationsYear ended December 31,In thousands, except per share data 2009 2008 2007Revenues and other incomeOil, natural gas and related product sales $ 866,709 $ 1,347,010 $ 952,788CO 2 sales and transportation fees 13,422 13,858 13,630Interest income and other 2,362 4,834 6,642Total revenues 882,493 1,365,702 973,060ExpensesLease operating expenses 326,132 307,550 230,932Production taxes and marketing expenses 34,580 55,770 43,130Transportation expense – Genesis 7,904 7,982 5,961CO 2 operating expenses 4,649 4,216 4,214General and administrative 116,095 60,374 48,972Interest, net of amounts capitalized of $68,596, $29,161, and$20,385, respectively 47,430 32,596 30,830Depletion, depreciation and amortization 238,323 221,792 195,900Commodity derivative expense (income) 236,226 (200,053) 18,597Abandoned acquisition costs — 30,601 —Write-down of oil and natural gas properties — 226,000 —Total expenses 1,011,339 746,828 578,536Equity in net income (loss) of Genesis 6,657 5,354 (1,110)Income (loss) before income taxes (122,189) 624,228 393,414Income tax provision (benefit)Current income taxes 4,611 40,812 30,074Deferred income taxes (51,644) 195,020 110,193Net income (loss) $ (75,156) $ 388,396 $ 253,147Net income (loss) per common share – basic $ (0.30) $ 1.59 $ 1.05Net income (loss) per common share – diluted $ (0.30) $ 1.54 $ 1.00Weighted average common shares outstandingBasic 246,917 243,935 240,065Diluted 246,917 252,530 252,101See accompanying Notes to Consolidated Financial Statements.Form 10-K Part II