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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
 9 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
NOTE 14 BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
Description of the Business
We are a performance-driven drilling solutions and technologies company based in Tulsa, Oklahoma with operations in all major U.S. onshore oil and gas producing basins as well as South America and the Middle East. Our drilling operations consist mainly of contracting Company-owned drilling equipment primarily to large oil and gas exploration companies.  We believe we are the recognized industry leader in drilling as well as technological innovation. We focus on offering our customers an integrated solutions-based approach by combining proprietary rig technology, automation software, and digital expertise into our rig operations rather than a product-based offering, such as a rig or separate technology package. Our drilling services operations are organized into the following reportable operating business segments: North America Solutions, Offshore Gulf of Mexico and International Solutions. 
Each reportable operating segment is a strategic business unit that is managed separately, and consolidated revenues and expenses reflect the elimination of all material intercompany transactions. Our real estate operations, our incubator program for new research and development projects, and our wholly-owned captive insurance companies are included in "Other." External revenues included in “Other” primarily consist of rental income.
Segment Performance
We evaluate segment performance based on income or loss from continuing operations (segment operating income (loss)) before income taxes which includes:
•Revenues from external and internal customers
•Direct operating costs
•Depreciation and amortization
•Allocated general and administrative costs
•Asset impairment charges
•Restructuring charges
but excludes gain on reimbursement of drilling equipment, other (gain) loss on sale of assets, corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges.
General and administrative costs are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods may be used which we believe to be a reasonable reflection of the utilization of services provided.
Summarized financial information of our reportable segments for the three and nine months ended June 30, 2022 and 2021 is shown in the following tables:
Three Months Ended June 30, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$486,004 $32,701 $29,118 $2,410 $— $550,233 
Intersegment— — — 14,725 (14,725)— 
Total sales486,004 32,701 29,118 17,135 (14,725)550,233 
Segment operating income (loss)57,353 5,872 (6,550)1,965 (2,140)56,500 
Three Months Ended June 30, 2021
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$281,132 $33,364 $15,278 $2,439 $— $332,213 
Intersegment— — — 9,379 (9,379)— 
Total sales281,132 33,364 15,278 11,818 (9,379)332,213 
Segment operating income (loss)(43,743)5,707 (3,538)(4,670)(3,298)(49,542)
Nine Months Ended June 30, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$1,235,852 $91,162 $93,699 $6,899 $— $1,427,612 
Intersegment— — — 41,577 (41,577)— 
Total sales1,235,852 91,162 93,699 48,476 (41,577)1,427,612 
Segment operating income (loss)29,757 16,616 651 9,061 (5,453)50,632 
Nine Months Ended June 30, 2021
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$733,061 $94,911 $40,609 $6,180 $— $874,761 
Intersegment— — — 25,181 (25,181)— 
Total sales733,061 94,911 40,609 31,361 (25,181)874,761 
Segment operating income (loss)(226,505)11,427 (15,353)(1,631)(8,857)(240,919)
The following table reconciles segment operating income (loss) per the tables above to income (loss) from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:
Three Months Ended June 30,Nine Months Ended June 30,
(in thousands)2022202120222021
Segment operating income (loss)$56,500 $(49,542)$50,632 $(240,919)
Gain on reimbursement of drilling equipment9,895 4,268 21,597 10,207 
Other gain (loss) on sale of assets3,075 (834)2,762 (12,952)
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges(35,748)(31,259)(106,497)(87,849)
Operating income (loss) from continuing operations33,722 (77,367)(31,506)(331,513)
Other income (expense)
Interest and dividend income5,313 1,527 11,301 8,225 
Interest expense(4,372)(5,963)(14,876)(17,861)
Gain (loss) on investment securities(14,310)2,409 55,684 7,853 
Loss on extinguishment of debt— — (60,083)— 
Other(1,148)(970)(2,166)(3,027)
Total unallocated amounts(14,517)(2,997)(10,140)(4,810)
Income (loss) from continuing operations before income taxes$19,205 $(80,364)$(41,646)$(336,323)
The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:
(in thousands)June 30,
2022		September 30,
2021
Total assets 1
North America Solutions$3,407,213 $3,418,569 
Offshore Gulf of Mexico79,483 84,580 
International Solutions333,776 269,820 
Other113,342 95,398 
3,933,814 3,868,367 
Investments and corporate operations388,796 1,165,761 
$4,322,610 $5,034,128 
(1)Assets by segment exclude investments in subsidiaries and intersegment activity.
The following table presents revenues from external customers by country based on the location of service provided:
Three Months Ended June 30,Nine Months Ended June 30,
(in thousands)2022202120222021
Operating revenues
United States$520,446 $316,315 $1,331,728 $832,516 
Argentina18,615 7,999 63,216 16,532 
Bahrain2,338 6,979 14,797 21,449 
United Arab Emirates2,188 — 3,711 990 
Colombia5,977 300 11,974 1,674 
Other Foreign669 620 2,186 1,600 
Total$550,233 $332,213 $1,427,612 $874,761 
Refer to Note 9—Revenue from Contracts with Customers for additional information regarding the recognition of revenue.