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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
 3 Months Ended
Dec. 31, 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, 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 (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 on sale of assets, corporate selling, general and administrative costs, and corporate depreciation.
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 months ended December 31, 2023 and 2022 is shown in the following tables:
Three Months Ended December 31, 2023
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$594,282 $25,531 $54,752 $2,582 $— $677,147 
Intersegment— — — 15,226 (15,226)— 
Total sales594,282 25,531 54,752 17,808 (15,226)677,147 
Segment operating income (loss)$144,490 $3,052 $5,423 $(67)$334 $153,232 
Three Months Ended December 31, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$627,163 $35,164 $54,801 $2,509 $— $719,637 
Intersegment— — — 16,402 (16,402)— 
Total sales627,163 35,164 54,801 18,911 (16,402)719,637 
Segment operating income $145,297 $6,746 $1,574 $4,677 $2,310 $160,604 
The following table reconciles segment operating income (loss) per the tables above to income before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:
Three Months Ended
December 31,
(in thousands)20232022
Segment operating income$153,232 $160,604 
Gain on reimbursement of drilling equipment7,494 15,724 
Other gain on sale of assets2,443 2,379 
Corporate selling, general and administrative costs and corporate depreciation(39,701)(34,484)
Operating income123,468 144,223 
Other income (expense)
Interest and dividend income10,734 4,705 
Interest expense(4,372)(4,355)
Loss on investment securities(4,034)(15,091)
Other(543)58 
Total unallocated amounts1,785 (14,683)
Income before income taxes$125,253 $129,540 
The following table reconciles segment total assets to total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:
(in thousands)December 31, 2023September 30, 2023
Total assets1
North America Solutions$3,347,139 $3,320,203 
Offshore Gulf of Mexico76,294 73,319 
International Solutions440,094 407,143 
Other148,694 154,290 
4,012,221 3,954,955 
Investments and corporate operations409,107 427,001 
$4,421,328 $4,381,956 
(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
December 31,
(in thousands)20232022
Operating revenues
United States$621,617 $664,173 
Argentina35,876 33,834 
Colombia7,703 16,369 
Bahrain4,497 2,269 
United Arab Emirates2,365 2,337 
Australia4,312 — 
Other foreign777 655 
Total$677,147 $719,637 
Refer to Note 8—Revenue from Contracts with Customers for additional information regarding the recognition of revenue.