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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Summary of Financial Information of Reportable Segments

Summarized financial information of our reportable segments for the three months ended March 31, 2020 and 2019 is shown in the following tables:

	Three Months Ended March 31, 2020
(in thousands)	U.S. Land				Offshore				International Land				H&P Technologies				Other				Eliminations				Total
External Sales	$	530,664			$	33,079			$	51,250			$	15,297			$	3,349			$	—			$	633,639
Intersegment	—				—				—				2,412				10,649				(13,061		)		—
Total Sales	530,664				33,079				51,250				17,709				13,998				(13,061		)		633,639
Segment Operating Income (Loss)	(309,093		)		(3,319		)		(152,469		)		(33,574		)		376				—				(498,079		)

	Three Months Ended March 31, 2019
(in thousands)	U.S. Land (1)				Offshore				International Land				H&P Technologies (1)				Other				Eliminations				Total
External Sales	$	617,533			$	34,583			$	50,808			$	14,729			$	3,215			$	—			$	720,868
Intersegment	—				—				—				—				—				—				—
Total Sales	617,533				34,583				50,808				14,729				3,215				—				720,868
Segment Operating Income (Loss)	102,015				4,531				7,968				(3,808		)		1,164				—				111,870

(1) Prior period information has been restated to reflect the transfer of FlexApp revenue and the related costs from U.S. Land to H&P Technologies. Certain FlexApp revenue not separately priced in drilling contracts, and recorded in the U.S. Land segment, was impracticable to retrospectively quantify, and as such was not restated.

Summarized financial information of our reportable segments for the six months ended March 31, 2020 and 2019 is shown in the following tables:

	Six Months Ended March 31, 2020
(in thousands)	U.S. Land				Offshore				International Land				H&P Technologies				Other				Eliminations				Total
External Sales	$	1,039,492			$	73,334			$	97,712			$	31,150			$	6,608			$	—			$	1,248,296
Intersegment	—				—				—				5,111				18,545				(23,656		)		—
Total Sales	1,039,492				73,334				97,712				36,261				25,153				(23,656		)		1,248,296
Segment Operating Income (Loss)	(252,403		)		3,009				(149,354		)		(38,125		)		(705		)		—				(437,578		)

	Six Months Ended March 31, 2019
(in thousands)	U.S. Land (1)				Offshore				International Land				H&P Technologies (1)				Other				Eliminations				Total
External Sales	$	1,236,958			$	71,493			$	117,095			$	29,465			$	6,455			$	—			$	1,461,466
Intersegment	—				—				—				—				—				—				—
Total Sales	1,236,958				71,493				117,095				29,465				6,455				—				1,461,466
Segment Operating Income (Loss)	177,928				11,699				14,597				(10,397		)		2,718				—				196,545

(1)

Prior period information has been restated to reflect the transfer of FlexApp revenue and the related costs from U.S. Land to H&P Technologies. Certain FlexApp revenue not separately priced in drilling contracts, and recorded in the U.S. Land segment, was impracticable to retrospectively quantify, and as such was not restated.

Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes

The following table reconciles segment operating income per the tables above to income from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:

	Three Months Ended March 31,								Six Months Ended March 31,
(in thousands)	2020				2019				2020				2019
Segment operating income	$	(498,079	)		$	111,870			$	(437,578	)		$	196,545
Gain on sale of assets	10,310				11,546				14,589				17,090
Corporate selling, general and administrative costs and corporate depreciation	(30,772		)		(28,270		)		(64,184		)		(64,200		)
Operating income (loss) from continuing operations	(518,541		)		95,146				(487,173		)		149,435
Other income (expense)
Interest and dividend income	3,566				2,061				5,780				4,512
Interest expense	(6,095		)		(6,167		)		(12,195		)		(10,888		)
Gain (loss) on investment securities	(12,413		)		5,878				(9,592		)		(36,957		)
Gain on sale of subsidiary	—				—				14,963				—
Other	(398		)		17				(797		)		548
Total unallocated amounts	(15,340		)		1,789				(1,841		)		(42,785		)
Income (loss) from continuing operations before income taxes	$	(533,881	)		$	96,935			$	(489,014	)		$	106,650

Total Assets by Reportable Segment

The following table presents total assets by reportable segment:

(in thousands)	March 31, 2020				September 30, 2019
Total assets (1)
U.S. Land	$	4,158,450			$	5,099,583
Offshore	111,116				102,442
International Land	179,170				217,094
H&P Technologies	151,577				184,558
Other	42,503				32,532
	4,642,816				5,636,209
Investments and corporate operations	533,938				203,306
Total assets from continuing operations	5,176,754				5,839,515
Discontinued operations	—				—
	$	5,176,754			$	5,839,515

(1)

Assets by segment exclude investments in subsidiaries and intersegment activity.

Revenues from External Customers by Country

The following table presents revenues from external customers by country based on the location of service provided:

	Three Months Ended March 31,								Six Months Ended March 31,
(in thousands)	2020				2019				2020				2019
Operating revenues
United States	$	581,520			$	669,424			$	1,148,335			$	1,343,425
Argentina	29,682				41,084				70,291				82,689
Bahrain	10,383				2,526				15,067				5,054
United Arab Emirates	6,280				—				6,453				4,728
Colombia	4,905				7,198				5,901				24,624
Other Foreign	869				636				2,249				946
Total	$	633,639			$	720,868			$	1,248,296			$	1,461,466

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