Brazos Valley Longhorn, L.L.C. (WRD) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K
Revenues	947.4	427.2	127.3	38.7	41.7
Revenue growth	121.8%	235.5%	229.3%	-7.3%
Cost of goods sold	9.9	11.9	6.6	19.4	9.4
Gross profit	937.5	415.3	120.8	19.3	32.3
Gross margin	99.0%	97.2%	94.8%	49.9%	77.4%
Selling, general and administrative [+]	22.5	36.9	12.0	27.6	5.8
General and administrative					5.8
Other operating expenses	718.5	517.2	224.6	-5.8	45.1
EBITDA [+]	493.2	29.4	-34.1	53.4
EBITDA growth	1576.7%	-186.3%	-163.9%	-386.4%
EBITDA margin	52.1%	6.9%	-26.8%	138.1%	-44.7%
Depreciation and amortization	296.7	168.3	81.8	55.9
EBIT [+]	196.5	-138.8	-115.8	-2.5	-18.6
EBIT growth	-241.5%	19.8%	4522.7%	-86.6%
EBIT margin	20.7%	-32.5%	-91.0%	-6.5%	-44.7%
Non-recurring items [+]				9.3
Asset impairment				9.3
Interest expense					2.7
Interest expense					2.7
Other income (expense), net	-9.8	149.9	63.2	-20.6	6.7
Pre-tax income	186.7	11.1	-52.7	-32.4	-14.6
Income taxes	40.2	-38.8	-5.6	0.6	-0.2
Tax rate	21.5%		10.6%		1.1%
Net income	146.5	49.9	-10.4	0.0	-14.4
Net margin	15.5%	11.7%	-8.2%	0.0%	-34.6%

Basic EPS [+]	$1.47	$0.52	($0.11)		($6,514.00)
Growth	184.4%	-554.9%
Diluted EPS [+]	$1.47	$0.52	($0.11)		($6,514.00)
Growth	184.4%	-554.9%

Shares outstanding (basic) [+]	99.5	96.3	91.3		0.0
Growth	3.3%	5.5%
Shares outstanding (diluted) [+]	99.5	96.3	91.3		0.0
Growth	3.3%	5.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.