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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables) | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information of Reportable Segments | Summarized financial information of our reportable segments for the fiscal years ended September 30, 2025, 2024 and 2023 is shown in the following tables:
| September 30, 2025
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Total
Revenues from external customers | $ | 2,361,288 |  |  | $ | 797,851 |  |  | $ | 520,394 |  |  | $ | 3,679,533 |
Intersegment revenues | 1,039 |  |  | 4,575 |  |  | — |  |  | 5,614 |
Total revenues | 2,362,327 |  |  | 802,426 |  |  | 520,394 |  |  | 3,685,147 |
Reconciliation of revenues: |  |  |  |  |  |  |
All other revenues |  |  |  |  |  |  | 163,687 |
Elimination of intersegment revenues |  |  |  |  |  |  | (102,821) |
Total consolidated revenues |  |  |  |  |  |  | 3,746,013 |
Less 1: |  |  |  |  |  |  |
Direct operating expenses | 1,322,697 |  |  | 718,822 |  |  | 430,135 |  |  | 2,471,654 |
Depreciation & amortization | 351,813 |  |  | 218,817 |  |  | 32,461 |  |  | 603,091 |
Research and development | 34,140 |  |  | — |  |  | — |  |  | 34,140 |
Selling, general and administrative costs | 68,047 |  |  | 17,232 |  |  | 4,619 |  |  | 89,898 |
Acquisition transaction costs | 41 |  |  | 1,585 |  |  | 2,971 |  |  | 4,597 |
Asset impairment charge | 1,507 |  |  | 132,720 |  |  | — |  |  | 134,227 |
Restructuring charges | 4,121 |  |  | 4,945 |  |  | 266 |  |  | 9,332 |
Segment operating income (loss) | 579,961 |  |  | (291,695) |  |  | 49,942 |  |  | 338,208 |
Reconciliation of segment operating income (loss): |  |  |  |  |  |  |
All other operating loss |  |  |  |  |  |  | (103,397) |
Elimination of intersegment loss |  |  |  |  |  |  | (3,999) |
Segment operating income |  |  |  |  |  |  | 230,812 |
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.
| September 30, 2024
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Total
Revenues from external customers | $ | 2,445,946 |  |  | $ | 193,975 |  |  | $ | 106,207 |  |  | $ | 2,746,128 |
Intersegment revenues | — |  |  | — |  |  | — |  |  | — |
Total revenues | 2,445,946 |  |  | 193,975 |  |  | 106,207 |  |  | 2,746,128 |
Reconciliation of revenues |  |  |  |  |  |  |
All other revenues |  |  |  |  |  |  | 71,630 |
Elimination of intersegment revenues |  |  |  |  |  |  | (61,151) |
Total consolidated revenues |  |  |  |  |  |  | 2,756,607 |
Less 1: |  |  |  |  |  |  |
Direct operating expenses | 1,366,471 |  |  | 169,033 |  |  | 82,668 |  |  | 1,618,172 |
Depreciation & amortization | 366,446 |  |  | 10,863 |  |  | 7,530 |  |  | 384,839 |
Research and development | 41,293 |  |  | — |  |  | — |  |  | 41,293 |
Selling, general and administrative costs | 61,113 |  |  | 9,427 |  |  | 3,594 |  |  | 74,134 |
Segment operating income | 610,623 |  |  | 4,652 |  |  | 12,415 |  |  | 627,690 |
Reconciliation of segment operating income (loss) |  |  |  |  |  |  |
All other operating loss |  |  |  |  |  |  | (1,359) |
Elimination of intersegment profit |  |  |  |  |  |  | 1,261 |
Segment operating income |  |  |  |  |  |  | 627,592 |
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.
| September 30, 2023
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Total
Revenues from external customers | $ | 2,519,743 |  |  | $ | 212,566 |  |  | $ | 130,244 |  |  | $ | 2,862,553 |
Intersegment revenues | — |  |  | — |  |  | — |  |  | — |
Total revenues | 2,519,743 |  |  | 212,566 |  |  | 130,244 |  |  | 2,862,553 |
Reconciliation of revenues |  |  |  |  |  |  |
All other revenues |  |  |  |  |  |  | 77,296 |
Elimination of intersegment revenues |  |  |  |  |  |  | (67,428) |
Total consolidated revenues |  |  |  |  |  |  | 2,872,421 |
Less 1: |  |  |  |  |  |  |
Direct operating expenses | 1,447,522 |  |  | 180,797 |  |  | 96,783 |  |  | 1,725,102 |
Depreciation & amortization | 353,976 |  |  | 7,615 |  |  | 7,622 |  |  | 369,213 |
Research and development | 30,507 |  |  | — |  |  | — |  |  | 30,507 |
Selling, general and administrative costs | 58,397 |  |  | 10,401 |  |  | 3,035 |  |  | 71,833 |
Asset impairment charge | 3,948 |  |  | 8,149 |  |  | — |  |  | 12,097 |
Segment operating income | 625,393 |  |  | 5,604 |  |  | 22,804 |  |  | 653,801 |
Reconciliation of segment operating income |  |  |  |  |  |  |
All other operating profit |  |  |  |  |  |  | 15,876 |
Elimination of intersegment profit |  |  |  |  |  |  | 4,671 |
Segment operating income |  |  |  |  |  |  | 674,348 |
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.
Schedule of Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes | The following table reconciles segment operating income per the tables above to income before income taxes as reported on the Consolidated Statements of Operations:
| Year Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2023
Segment operating income | $ | 230,812 |  |  | $ | 627,592 |  |  | $ | 674,348 |
Gain on reimbursement of drilling equipment | 33,398 |  |  | 33,309 |  |  | 48,173 |
Other loss on sale of assets | (1,541) |  |  | (5,139) |  |  | (8,016) |
Corporate selling, general and administrative costs, corporate depreciation, corporate acquisition transaction costs, corporate asset impairment charges, and corporate restructuring charges | (259,351) |  |  | (198,313) |  |  | (146,197) |
Operating income | 3,318 |  |  | 457,449 |  |  | 568,308 |
Other income (expense) |  |  |  |  |
Interest and dividend income | 35,207 |  |  | 41,168 |  |  | 28,393 |
Interest expense | (107,808) |  |  | (29,093) |  |  | (17,283) |
Gain (loss) on investment securities | (22,377) |  |  | 13,953 |  |  | 11,299 |
Foreign currency exchange loss | (9,682) |  |  | (5,550) |  |  | (6,419) |
Other | 27,229 |  |  | 3,093 |  |  | 9,081 |
Total other income (expense) | (77,431) |  |  | 23,571 |  |  | 25,071 |
Income (loss) before income taxes | $ | (74,113) |  |  | $ | 481,020 |  |  | $ | 593,379 |
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) | 2025 |  | 2024
Total assets 1 |  |  |
North America Solutions | $ | 2,957,139 |  |  | $ | 3,225,410 |
International Solutions | 2,426,613 |  |  | 685,833 |
Offshore Solutions | 714,708 |  |  | 73,119 |
Other | 360,037 |  |  | 157,877 |
| 6,458,497 |  |  | 4,142,239 |
Investments and corporate operations | 247,241 |  |  | 1,639,659 |
| $ | 6,705,738 |  |  | $ | 5,781,898 |
(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) | 2025 |  | 2024 |  | 2023
Operating revenues |  |  |  |  |
United States | $ | 2,481,593 |  |  | $ | 2,558,814 |  |  | $ | 2,656,617 |
Saudi Arabia | 261,747 |  |  | — |  |  | — |
Norway | 220,263 |  |  | — |  |  | — |
Oman | 179,568 |  |  | — |  |  | — |
Argentina | 155,727 |  |  | 142,451 |  |  | 137,420 |
Azerbaijan | 129,011 |  |  | — |  |  | — |
Germany | 57,561 |  |  | — |  |  | — |
Colombia | 36,058 |  |  | 9,254 |  |  | 46,720 |
Bahrain | 30,816 |  |  | 17,990 |  |  | 15,401 |
Kuwait | 30,653 |  |  | — |  |  | — |
Other foreign | 163,016 |  |  | 28,098 |  |  | 16,263 |
Total | $ | 3,746,013 |  |  | $ | 2,756,607 |  |  | $ | 2,872,421 |
The following table presents property, plant and equipment by country based on the location of service provided:
| Year Ended September 30,
(in thousands) | 2025 |  | 2024
Property, plant and equipment, net |  |  |
United States | $ | 2,503,045 |  |  | $ | 2,752,325 |
Saudi Arabia | 971,440 |  |  | 149,472 |
Oman | 445,706 |  |  | — |
United Kingdom | 71,385 |  |  | — |
Argentina | 71,135 |  |  | 62,533 |
Germany | 51,306 |  |  | — |
Kuwait | 40,760 |  |  | — |
Colombia | 36,723 |  |  | 19,243 |
Norway | 25,431 |  |  | — |
Other foreign | 96,143 |  |  | 32,704 |
Total | $ | 4,313,074 |  |  | $ | 3,016,277 |

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