Diamondback Energy, Inc. (FANG) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Midstream Operations				448.0	184.0
Upstream	9,572.0	6,747.0	2,756.0	3,891.0	2,132.0
Other	71.0	50.0	57.0
Total revenues [+]	9,643.0	6,797.0	2,813.0	3,964.0	2,176.0	1,205.0	527.1	446.7
Oil & gas								19.6
Other income					12.0
Revenue growth [+]	41.9%	141.6%	-29.0%	82.2%	80.6%	128.6%	18.0%	-9.9%
Midstream Operations				143.5%
Upstream	41.9%	144.8%	-29.2%	82.5%
Cost of goods sold [+]	611.0	425.0	195.0	248.0	338.0	201.0	34.5	121.7
Lease costs					205.0	127.0		82.6
Direct taxes					133.0	74.0		33.0
Natural gas midstream costs								6.1
Gross profit	9,032.0	6,372.0	2,618.0	3,716.0	1,838.0	1,004.0	492.7	325.0
Gross margin	93.7%	93.7%	93.1%	93.7%	84.5%	83.3%	93.5%	72.8%
Selling, general and administrative	144.0	146.0	88.0	104.0	65.0	48.0	42.6	32.0
Equity in earnings	77.0	15.0	-10.0	-6.0
Other operating expenses	1,022.0	872.0	674.0	673.0	139.0	24.0	95.1	0.8
EBITDA [+]	7,943.0	5,369.0	1,846.0	2,933.0	1,634.0	932.0	354.9	292.2
EBITDA growth	47.9%	190.8%	-37.1%	79.5%	75.3%	162.6%	21.5%	-23.6%
EBITDA margin	82.4%	79.0%	65.6%	74.0%	75.1%	77.3%	67.3%	65.4%
Depreciation and amortization	1,344.0	1,275.0	1,311.0	1,454.0	623.0	327.0	178.0	217.7
EBIT [+]	6,599.0	4,094.0	535.0	1,479.0	1,011.0	605.0	176.9	74.5
EBIT growth	61.2%	665.2%	-63.8%	46.3%	67.1%	242.0%	137.4%	-65.0%
EBIT margin	68.4%	60.2%	19.0%	37.3%	46.5%	50.2%	33.6%	16.7%
Non-recurring items [+]	14.0	78.0	6,021.0	790.0			245.5	814.8
Asset impairment			6,021.0	790.0			245.5	814.8
Interest expense, net [+]	-160.0	-200.0	-201.0	-173.0	-88.0	41.0	40.7	41.5
Interest expense	-159.0	-199.0	-197.0	-172.0	-87.0	41.0	40.7	41.5
Interest income	1.0	1.0	4.0	1.0	1.0
Other income (expense), net [+]	-1,009.0	-1,309.0	-491.0	-500.0	14.0	-67.0	-55.4	32.7
Gain (loss) on investments					-1.0
Gain (loss) on debt retirement	-99.0	-75.0	-5.0	-56.0			-33.1
Gain (loss) on derivative instruments	-586.0	-848.0	-81.0	-108.0	101.0	-78.0	-25.3	32.0
Other non-operating income							3.1	0.7
Other					89.0	11.0	3.1	0.7
Pre-tax income	5,736.0	2,907.0	-5,776.0	362.0	1,113.0	497.0	-164.7	-749.1
Income taxes	1,174.0	631.0	-1,104.0	47.0	168.0	-20.0	0.2	-201.3
Tax rate	20.5%	21.7%	19.1%	13.0%	15.1%			26.9%
Minority interest	176.0	94.0	-155.0	75.0	99.0	35.0	0.1	2.8
Net income	4,386.0	2,182.0	-4,517.0	240.0	846.0	482.0	-165.0	-550.6
Net margin	45.5%	32.1%	-160.6%	6.1%	38.9%	40.0%	-31.3%	-123.3%

Basic EPS [+]	$24.84	$12.35	($28.59)	$1.47	$8.09	$4.95	($2.20)	($8.74)
Growth	101.1%	-143.2%	-2047.8%	-81.8%	63.5%	-325.0%	-74.8%	-338.2%
Diluted EPS [+]	$24.84	$12.35	($28.59)	$1.46	$8.06	$4.93	($2.20)	($8.74)
Growth	101.1%	-143.2%	-2052.0%	-81.8%	63.4%	-324.5%	-74.8%	-340.3%

Dividends per share [+]	$11.31	$1.95	$1.53	$0.94	$0.50
Growth	480.0%	27.9%	62.7%	87.5%

Shares outstanding (basic) [+]	176.5	176.6	158.0	163.5	104.6	97.5	75.1	63.0
Growth	-0.1%	11.8%	-3.4%	56.3%	7.4%	29.8%	19.1%	19.3%
Shares outstanding (diluted) [+]	176.5	176.6	158.0	163.8	104.9	97.7	75.1	63.0
Growth	-0.1%	11.8%	-3.6%	56.1%	7.4%	30.1%	19.1%	18.2%

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