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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/01/15 RPC Inc 10-Q 3/31/15 66:5.2M Toppan Vite NY Inc./FA |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 407K
6: EX-95.1 Mine-Safety Disclosure HTML 18K
2: EX-18 Letter re: Change in Accounting Principles HTML 22K
3: EX-31.1 Certification -- §302 - SOA'02 HTML 29K
4: EX-31.2 Certification -- §302 - SOA'02 HTML 28K
5: EX-32.1 Certification -- §906 - SOA'02 HTML 21K
45: R1 Document and Entity Information HTML 41K
34: R2 Consolidated Balance Sheets (Unaudited) HTML 138K
43: R3 Consolidated Balance Sheets (Unaudited) HTML 23K
(Parentheticals)
47: R4 Consolidated Statements of Operations (Unaudited) HTML 82K
61: R5 Consolidated Statements of Comprehensive Income HTML 41K
(Unaudited)
37: R6 Consolidated Statement of Stockholders' Equity HTML 72K
(Unaudited)
42: R7 Consolidated Statements of Cash Flows (Unaudited) HTML 144K
31: R8 General HTML 30K
23: R9 Revenues HTML 23K
62: R10 Recent Accounting Pronouncements HTML 46K
49: R11 Earnings Per Share HTML 69K
48: R12 Property, Plant and Equipment HTML 27K
53: R13 Stock-Based Compensation HTML 51K
54: R14 Business Segment Information HTML 105K
52: R15 Inventories HTML 24K
55: R16 Employee Benefit Plan HTML 48K
44: R17 Notes Payable to Banks HTML 46K
46: R18 Income Taxes HTML 27K
51: R19 Fair Value Disclosures HTML 58K
66: R20 Accumulated Other Comprehensive (Loss) Income HTML 82K
57: R21 Subsequent Event HTML 23K
39: R22 Earnings Per Share (Tables) HTML 59K
50: R23 Stock-Based Compensation (Tables) HTML 44K
41: R24 Business Segment Information (Tables) HTML 94K
18: R25 Employee Benefit Plan (Tables) HTML 40K
58: R26 Notes Payable to Banks (Tables) HTML 34K
63: R27 Fair Value Disclosures (Tables) HTML 47K
27: R28 Accumulated Other Comprehensive (Loss) Income HTML 81K
(Tables)
26: R29 EARNINGS PER SHARE - Reconciliation of weighted HTML 62K
average shares outstanding (Details)
29: R30 EARNINGS PER SHARE - Earnings per share HTML 31K
attributable to common stock and restricted shares
(Details 1)
30: R31 Property, Plant and Equipment (Detail Textuals) HTML 29K
32: R32 STOCK-BASED COMPENSATION - Stock-based employee HTML 26K
compensation expense (Details)
17: R33 STOCK-BASED COMPENSATION - Non-vested restricted HTML 49K
shares activity (Details 1)
56: R34 Stock-Based Compensation (Detail Textuals) HTML 29K
38: R35 Stock-Based Compensation (Detail Textuals 1) HTML 32K
40: R36 BUSINESS SEGMENT INFORMATION - Summary of HTML 83K
information with respect to RPC's business
segments (Details)
21: R37 Business Segment Information (Detail Textuals) HTML 21K
65: R38 Inventories (Detail Textuals) HTML 23K
13: R39 EMPLOYEE BENEFIT PLAN - Net periodic benefit cost HTML 35K
and related components (Details)
33: R40 EMPLOYEE BENEFIT PLAN - Trading results related to HTML 23K
SERP (Details 1)
60: R41 Employee Benefit Plan (Detail Textuals) HTML 31K
20: R42 NOTES PAYABLE TO BANKS - Interest incurred on HTML 28K
credit facility, interest capitalized related to
facilities and equipment under construction, and
related weighted average interest rates (Details)
25: R43 Notes Payable to Banks (Detail Textuals) HTML 62K
28: R44 Notes Payable to Banks (Detail Textuals 1) HTML 26K
36: R45 Notes Payable to Banks (Detail Textuals 2) HTML 41K
16: R46 Income Taxes (Detail Textuals) HTML 23K
22: R47 FAIR VALUE DISCLOSURES - Valuation of financial HTML 31K
instruments measured at fair value on a recurring
basis (Details)
14: R48 Fair Value Disclosures (Detail Textuals) HTML 24K
59: R49 Accumulated Other Comprehensive (LOSS) INCOME - HTML 71K
Summary of components of accumulated other
comprehensive (Loss) Income (Details)
19: R50 Subsequent Event (Detail Textuals) HTML 29K
64: XML IDEA XML File -- Filing Summary XML 93K
15: EXCEL IDEA Workbook of Financial Reports XLSX 101K
24: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 771K
7: EX-101.INS XBRL Instance -- res-20150331 XML 1.08M
9: EX-101.CAL XBRL Calculations -- res-20150331_cal XML 126K
10: EX-101.DEF XBRL Definitions -- res-20150331_def XML 285K
11: EX-101.LAB XBRL Labels -- res-20150331_lab XML 776K
12: EX-101.PRE XBRL Presentations -- res-20150331_pre XML 534K
8: EX-101.SCH XBRL Schema -- res-20150331 XSD 113K
35: ZIP XBRL Zipped Folder -- 0001571049-15-003464-xbrl Zip 89K
EXHIBIT 18
Board of Directors
RPC, Inc.
2801 Buford Highway NE, Suite 520
Dear Directors:
We are providing this letter solely for inclusion as an exhibit to RPC, Inc.’s (the "Company") Form 10-Q filing pursuant to Item 601 of Regulation S-K.
As stated in Note 5 to the unaudited condensed consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015, as a result of a change in estimate related to the useful life of a specific component of the Company’s pressure pumping equipment, the Company has concluded that this component is no longer a long-lived asset, but instead a consumable supply inventory item. Accordingly, the cost of this component is being expensed as repairs and maintenance within cost of revenues at the time of installation. Note 5 also states management’s belief that the change is preferable in the circumstances because it more closely reflects the pattern of consumption of this component as a result of continual increases in the wear and tear experienced by these items due to harsher geological environments.
With regard to the aforementioned accounting change, it should be understood that authoritative criteria have not been established for evaluating the preferability of one acceptable method of accounting over another acceptable method and, in expressing our concurrence below, we have relied on management’s business planning and judgment and on management’s determination that this change in accounting estimate effected by a change in accounting principle is preferable.
Based on our reading of management’s stated reasons and justification for this change in accounting estimate effected by a change in accounting principle in the Form 10-Q, and our discussions with management as to their judgment about the relevant business planning factors and changing business conditions relating to this change, we concur with management that the newly adopted method of accounting is preferable in the Company’s circumstances.
We have not audited the application of the aforementioned accounting change to the financial statements included in Part I of the Company’s Form 10-Q. We also have not audited any consolidated financial statements of the Company as of any date or for any period subsequent to December 31, 2014. Accordingly, we do not express an opinion on whether the accounting for the change in accounting estimate effected by a change in accounting principle has been properly applied or whether the aforementioned financial statements are fairly presented in conformity with accounting principles generally accepted in the United States of America.
Very truly yours,
C:
| This ‘10-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 5/1/15 | 8-K | ||
| For Period end: | 3/31/15 | |||
| 12/31/14 | 10-K, ARS, SD | |||
| List all Filings | ||||