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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES (Tables)
 12 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
Cash, cash equivalents, and restricted cash are reflected in the Consolidated Balance Sheets as follows:
September 30,
(in thousands)20212020    2019
Cash$917,534 $487,884 $347,943 
Restricted cash
Prepaid expenses and other18,350 45,577 31,291 
Other assets832 3,286 3,737 
Total cash, cash equivalents, and restricted cash$936,716 $536,747 $382,971 
Schedule of Restricted Cash and Cash Equivalents
Cash, cash equivalents, and restricted cash are reflected in the Consolidated Balance Sheets as follows:
September 30,
(in thousands)20212020    2019
Cash$917,534 $487,884 $347,943 
Restricted cash
Prepaid expenses and other18,350 45,577 31,291 
Other assets832 3,286 3,737 
Total cash, cash equivalents, and restricted cash$936,716 $536,747 $382,971 
Schedule of Rent Revenues
Our rent revenues are as follows:
Year Ended September 30,
(in thousands)2021    2020    2019
Minimum rents$5,589 $9,245 $10,168 
Overage and percentage rents726 656 932 
Schedule of Minimum Future Rental Income to be Received on Noncancelable Operating Leases
At September 30, 2021, minimum future rental income to be received on noncancelable operating leases was as follows:
Fiscal YearAmount
(in thousands)
2022$5,429 
20234,630 
20243,903 
20253,128 
20262,236 
Thereafter4,064 
Total$23,390 
Schedule of Cost and Accumulated Depreciation for Real Estate Properties
At September 30, 2021 and 2020, the cost and accumulated depreciation for real estate properties were as follows:
September 30,
(in thousands)2021    2020
Real estate properties$43,302 $43,389 
Accumulated depreciation(28,846)(27,588)
$14,456 $15,801 
Property, plant and equipment as of September 30, 2021 and 2020 consisted of the following:
(in thousands)Estimated Useful LivesSeptember 30, 2021September 30, 2020
Drilling services equipment
4 - 15 years
$6,229,011 7,313,234 
Tubulars
4 years
573,900 615,281 
Real estate properties
10 - 45 years
43,302 43,389 
Other
2 - 23 years
459,741 464,704 
Construction in progress1
47,587 49,592 
7,353,541 8,486,200 
Accumulated depreciation(4,226,254)(4,839,859)
Property, plant and equipment, net$3,127,287 $3,646,341 
Assets held-for-sale$71,453 $— 
(1)Included in construction in progress are costs for projects in progress to upgrade or refurbish certain rigs in our existing fleet. Additionally, we include other capital maintenance purchase-orders that are open/in process. As these various projects are completed, the costs are then classified to their appropriate useful life category.
Schedule of Description of Recent Accounting Pronouncements and Analysis of the Effects on the Financial Statements
The following table provides a brief description of recent accounting pronouncements and our analysis of the effects on our financial statements:

StandardDescriptionDate of
Adoption		Effect on the Financial 
Statements or Other Significant Matters
Recently Adopted Accounting Pronouncements
ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) and related ASUs issued subsequent
This ASU introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The new model will apply to: (1) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (2) loan commitments and certain other off-balance sheet credit exposures, (3) debt securities and other financial assets measured at fair value through other comprehensive income (loss), and (4) beneficial interests in securitized financial assets. This update is effective for annual periods beginning after December 15, 2019.
October 1, 2020
We adopted this ASU during the first quarter of fiscal year 2021, as required. Refer to "Allowance for Credit Losses" below for additional information.
ASU No. 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans—General (Topic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans
This ASU amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit, pension and other postretirement plans. This update is effective for annual periods ending after December 15, 2020.
September 30, 2021
We adopted this ASU during the fourth quarter of fiscal year 2021. The adoption did not have a material effect on our consolidated financial statements and disclosures.
Standards that are not yet adopted as of September 30, 2021
ASU No. 2019-12, Financial Instruments – Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
This ASU simplifies the accounting for income taxes by removing certain exceptions related to Topic 740. The ASU also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This update is effective for annual and interim periods beginning after December 15, 2020. Early adoption of the amendment is permitted, including adoption in any interim period for public entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. Upon adoption, the amendments addressed in this ASU will be applied either prospectively, retrospectively or on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. The update is effective for annual periods beginning after December 15, 2020.
October 1, 2021
We plan to adopt this ASU, as required, in the first quarter of fiscal year 2022. Although we are currently evaluating the impact the new guidance may have on our consolidated financial statements and disclosures, we do not believe the adoption will have a material effect thereon.