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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
 9 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
NOTE 13 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
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, 2023 and 2022 is shown in the following tables:
Three Months Ended June 30, 2023
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$641,612 $31,221 $48,692 $2,431 $— $723,956 
Intersegment— — — 17,359 (17,359)— 
Total sales641,612 31,221 48,692 19,790 (17,359)723,956 
Segment operating income (loss)$169,499 $4,705 $(1,397)$2,104 $4,470 $179,381 
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 
Nine Months Ended June 30, 2023
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$1,944,555 $101,364 $159,383 $7,513 $— $2,212,815 
Intersegment— — — 51,423 (51,423)— 
Total sales1,944,555 101,364 159,383 58,936 (51,423)2,212,815 
Segment operating income$496,945 $18,138 $4,132 $13,604 $4,513 $537,332 
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$29,757 $16,616 $651 $9,061 $(5,453)$50,632 
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)2023202220232022
Segment operating income$179,381 $56,500 $537,332 $50,632 
Gain on reimbursement of drilling equipment10,642 9,895 37,940 21,597 
Other gain (loss) on sale of assets(4,504)3,075 394 2,762 
Corporate selling, general and administrative costs, corporate depreciation and corporate restructuring charges(36,777)(35,748)(107,496)(106,497)
Operating income (loss) from continuing operations148,742 33,722 468,170 (31,506)
Other income (expense)
Interest and dividend income10,748 5,313 20,508 11,301 
Interest expense(4,324)(4,372)(12,918)(14,876)
Gain (loss) on investment securities(18,538)(14,310)6,123 55,684 
Loss on extinguishment of debt— — — (60,083)
Other(685)(1,148)(2,088)(2,166)
Total unallocated amounts(12,799)(14,517)11,625 (10,140)
Income (loss) from continuing operations before income taxes$135,943 $19,205 $479,795 $(41,646)
The following table reconciles segment total assets to total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:
(in thousands)June 30, 2023September 30, 2022
Total assets1
North America Solutions$3,381,446 $3,406,824 
Offshore Gulf of Mexico77,539 80,993 
International Solutions406,471 330,974 
Other158,698 120,305 
4,024,154 3,939,096 
Investments and corporate operations316,662 416,435 
$4,340,816 $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:
Three Months Ended
June 30,		Nine Months Ended
June 30,
(in thousands)2023202220232022
Operating revenues
United States$674,658 $520,446 $2,051,133 $1,331,728 
Argentina32,388 18,615 101,712 63,216 
Columbia9,433 5,977 39,454 11,974 
Bahrain4,458 2,338 10,925 14,797 
United Arab Emirates2,401 2,188 7,280 3,711 
Other foreign618 669 2,311 2,186 
Total$723,956 $550,233 $2,212,815 $1,427,612 
Refer to Note 8—Revenue from Contracts with Customers for additional information regarding the recognition of revenue.