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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
 12 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
NOTE 16 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, the Middle East and Australia. 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 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 fiscal years ended September 30, 2023, 2022 and 2021 is shown in the following tables:
September 30, 2023
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$2,519,743 $130,244 $212,566 $9,868 $— $2,872,421 
Intersegment— — — 67,428 (67,428)— 
Total sales2,519,743 130,244 212,566 77,296 (67,428)2,872,421 
Segment operating income (loss)625,467 22,806 (891)15,876 4,671 667,929 
Depreciation and amortization353,976 7,622 7,615 2,014 — 371,227 
September 30, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$1,788,167 $125,465 $136,072 $9,240 $— $2,058,944 
Intersegment— — — 57,047 (57,047)— 
Total sales1,788,167 125,465 136,072 66,287 (57,047)2,058,944 
Segment operating income (loss)121,893 23,214 (138)12,720 (6,422)151,267 
Depreciation and amortization375,250 9,175 4,156 1,701 — 390,282 
September 30, 2021
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$1,026,364 $126,399 $57,917 $7,888 $— $1,218,568 
Intersegment— — — 35,416 (35,416)— 
Total sales1,026,364 126,399 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 amortization392,415 10,557 2,013 1,426 — 406,411 
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)202320222021
Segment operating income (loss)$667,929 $151,267 $(303,494)
Gain on reimbursement of drilling equipment48,173 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 income28,393 18,090 10,254 
Interest expense(17,283)(19,203)(23,955)
Gain on investment securities11,299 57,937 6,727 
Loss on extinguishment of debt— (60,083)— 
Other9,081 (10,714)5,652 
Total unallocated amounts31,490 (13,973)(1,322)
Income (loss) before income taxes$593,379 $31,319 $(429,871)
The following table reconciles segment total assets to total assets as reported on the Consolidated Balance Sheets:
Year Ended September 30,
(in thousands)20232022
Total assets1
North America Solutions$3,320,203 $3,406,824 
Offshore Gulf of Mexico73,319 80,993 
International Solutions407,143 330,974 
Other154,290 120,305 
3,954,955 3,939,096 
Investments and corporate operations427,001 416,435 
Total assets$4,381,956 $4,355,531 
(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:
Year Ended September 30,
(in thousands)202320222021
Operating revenues
United States$2,656,617 $1,920,026 $1,158,230 
Argentina137,420 91,385 27,855 
Colombia46,720 22,003 1,674 
Bahrain15,401 16,986 27,435 
United Arab Emirates9,716 5,698 957 
Australia3,350 — — 
Other foreign3,197 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)20232022
Property, plant and equipment, net
United States$2,813,707 $2,872,145 
Argentina57,168 54,789 
Colombia20,835 21,809 
Australia10,673 — 
United Arab Emirates10,373 3,024 
Other foreign8,939 9,042 
Total$2,921,695 $2,960,809