Callon Petroleum Company Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

The Company had the following major customers that represented 10% or more of its total revenues for at least one of the periods presented:


	Years Ended December 31,
	2021	2020	2019
Shell Trading Company	20%	31%	10%
Trafigura Trading, LLC	15	*	*
Occidental Energy Marketing, Inc.	13	*	*
Valero Marketing and Supply Company	13	23	*
Rio Energy International, Inc.	*	*	26
Enterprise Crude Oil, LLC	*	*	19
Plains Marketing, L.P.	*	*	15

* - Less than 10% for the applicable year.

The following table sets forth supplemental cash flow information for the periods indicated:


	Years Ended December 31,
	2021	2020	2019
	(In thousands)
Interest paid, net of capitalized amounts	$85,042	$91,269	$—
Income taxes paid (1)	—	—	—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$26,681	$44,314	$3,414
Investing cash flows from operating leases	18,598	24,234	32,529
Non-cash investing and financing activities:
Change in accrued capital expenditures	$63,444	($64,465)	($31,475)
Change in asset retirement costs	2,905	8,605	13,559
Contingent consideration arrangement	—	—	8,512
ROU assets obtained in exchange for lease liabilities:
Operating leases	$24,301	$8,070	$66,914
Financing leases	—	—	2,197

(1) The Company did not pay any federal income tax for any of the years in the three year period ending December 31, 2021.