Would love someone with an accounting designation to clarify for the board. See below...
As at June 30th I think we can all agree per the Financial Statements filed with the regulatory agency Baytex Net Debt was $1.629B
Therefore in accounting terms the June 30th ending balance sheet reconciliation was $1.629B ( This balance shown in the liability accounts)
Subsequent to June 30th there was a PAYMENT
DR WHAT????
CR Cash $100M
What did that debit......it was a payment of a long-term note...my brain says the long-term debt liability account...in accounting there is always a debit and credit
PER FINANCIAL STATEMENTS PUBLISHED TO THE REGULATORY AGENCY
PAGE 2
JUNE 30TH 2021 NET DEBT $1,629.6B PAGE 5
"
Subsequent to the quarter, we used free cash flow generated in the first half of 2021 to repurchase and cancel US$100 million principal amount of the 5.625% long-term notes at the call price of 100.938% plus accrued interest effective July 28, 2021."
Subsequent means after the June 30th balance...changing the liability account value?? https://www.baytexenergy.com/files/pdf/Regulatory%20Filings/Q2%202021.pdf Any accountants out there able to clarify??? MAYBE I AM WRONG BUT IF THE RECONCILIATION WAS $1.629 as at June 30th and AFTER they paid $100M USD I get less than $1.629??
Am I missing something????