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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables) | 12 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Financial Information of Reportable Segments | Summarized financial information of our reportable segments for the fiscal years ended September 30, 2023, 2022 and 2021 is shown in the following tables:
| September 30, 2023
(in thousands) | North America Solutions |  | Offshore Gulf of Mexico |  | International Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 2,519,743 |  |  | $ | 130,244 |  |  | $ | 212,566 |  |  | $ | 9,868 |  |  | $ | — |  |  | $ | 2,872,421 |
Intersegment | — |  |  | — |  |  | — |  |  | 67,428 |  |  | (67,428) |  |  | — |
Total sales | 2,519,743 |  |  | 130,244 |  |  | 212,566 |  |  | 77,296 |  |  | (67,428) |  |  | 2,872,421 |
Segment operating income (loss) | 625,467 |  |  | 22,806 |  |  | (891) |  |  | 15,876 |  |  | 4,671 |  |  | 667,929 |
Depreciation and amortization | 353,976 |  |  | 7,622 |  |  | 7,615 |  |  | 2,014 |  |  | — |  |  | 371,227 |
| September 30, 2022
(in thousands) | North America Solutions |  | Offshore Gulf of Mexico |  | International Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 1,788,167 |  |  | $ | 125,465 |  |  | $ | 136,072 |  |  | $ | 9,240 |  |  | $ | — |  |  | $ | 2,058,944 |
Intersegment | — |  |  | — |  |  | — |  |  | 57,047 |  |  | (57,047) |  |  | — |
Total sales | 1,788,167 |  |  | 125,465 |  |  | 136,072 |  |  | 66,287 |  |  | (57,047) |  |  | 2,058,944 |
Segment operating income (loss) | 121,893 |  |  | 23,214 |  |  | (138) |  |  | 12,720 |  |  | (6,422) |  |  | 151,267 |
Depreciation and amortization | 375,250 |  |  | 9,175 |  |  | 4,156 |  |  | 1,701 |  |  | — |  |  | 390,282 |
| September 30, 2021
(in thousands) | North America Solutions |  | Offshore Gulf of Mexico |  | International Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 1,026,364 |  |  | $ | 126,399 |  |  | $ | 57,917 |  |  | $ | 7,888 |  |  | $ | — |  |  | $ | 1,218,568 |
Intersegment | — |  |  | — |  |  | — |  |  | 35,416 |  |  | (35,416) |  |  | — |
Total sales | 1,026,364 |  |  | 126,399 |  |  | 57,917 |  |  | 43,304 |  |  | (35,416) |  |  | 1,218,568 |
Segment operating income (loss) | (287,176) |  |  | 15,969 |  |  | (21,003) |  |  | (9,704) |  |  | (1,580) |  |  | (303,494) |
Depreciation and amortization | 392,415 |  |  | 10,557 |  |  | 2,013 |  |  | 1,426 |  |  | — |  |  | 406,411 |
Schedule of Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes | The following table reconciles segment operating income (loss) per the tables above to income (loss) before income taxes as reported on the Consolidated Statements of Operations:
| Year Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2021
Segment operating income (loss) | $ | 667,929 |  |  | $ | 151,267 |  |  | $ | (303,494) |
Gain on reimbursement of drilling equipment | 48,173 |  |  | 29,443 |  |  | 12,322 |
Other gain (loss) on sale of assets | (8,016) |  |  | 5,432 |  |  | (11,280) |
Corporate selling, general and administrative costs, corporate depreciation and corporate restructuring charges | (146,197) |  |  | (140,850) |  |  | (126,097) |
Operating income (loss) | 561,889 |  |  | 45,292 |  |  | (428,549) |
Other income (expense) |  |  |  |  |
Interest and dividend income | 28,393 |  |  | 18,090 |  |  | 10,254 |
Interest expense | (17,283) |  |  | (19,203) |  |  | (23,955) |
Gain on investment securities | 11,299 |  |  | 57,937 |  |  | 6,727 |
Loss on extinguishment of debt | — |  |  | (60,083) |  |  | — |
Other | 9,081 |  |  | (10,714) |  |  | 5,652 |
Total unallocated amounts | 31,490 |  |  | (13,973) |  |  | (1,322) |
Income (loss) before income taxes | $ | 593,379 |  |  | $ | 31,319 |  |  | $ | (429,871) |
Schedule of Total Assets by Reportable Segment | The following table reconciles segment total assets to total assets as reported on the Consolidated Balance Sheets:
| Year Ended September 30,
(in thousands) | 2023 |  | 2022
Total assets 1 |  |  |
North America Solutions | $ | 3,320,203 |  |  | $ | 3,406,824 |
Offshore Gulf of Mexico | 73,319 |  |  | 80,993 |
International Solutions | 407,143 |  |  | 330,974 |
Other | 154,290 |  |  | 120,305 |
| 3,954,955 |  |  | 3,939,096 |
Investments and corporate operations | 427,001 |  |  | 416,435 |
Total assets | $ | 4,381,956 |  |  | $ | 4,355,531 |
(1)Assets by segment exclude investments in subsidiaries and intersegment activity.
Schedule of Revenues from External Customers by Country | The following table presents revenues from external customers by country based on the location of service provided:
| Year Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2021
Operating revenues |  |  |  |  |
United States | $ | 2,656,617 |  |  | $ | 1,920,026 |  |  | $ | 1,158,230 |
Argentina | 137,420 |  |  | 91,385 |  |  | 27,855 |
Colombia | 46,720 |  |  | 22,003 |  |  | 1,674 |
Bahrain | 15,401 |  |  | 16,986 |  |  | 27,435 |
United Arab Emirates | 9,716 |  |  | 5,698 |  |  | 957 |
Australia | 3,350 |  |  | — |  |  | — |
Other foreign | 3,197 |  |  | 2,846 |  |  | 2,417 |
Total | $ | 2,872,421 |  |  | $ | 2,058,944 |  |  | $ | 1,218,568 |
The following table presents property, plant and equipment by country based on the location of service provided:
| Year Ended September 30,
(in thousands) | 2023 |  | 2022
Property, plant and equipment, net |  |  |
United States | $ | 2,813,707 |  |  | $ | 2,872,145 |
Argentina | 57,168 |  |  | 54,789 |
Colombia | 20,835 |  |  | 21,809 |
Australia | 10,673 |  |  | — |
United Arab Emirates | 10,373 |  |  | 3,024 |
Other foreign | 8,939 |  |  | 9,042 |
Total | $ | 2,921,695 |  |  | $ | 2,960,809 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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