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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables) | 9 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information of Reportable Segments | Summarized financial information of our reportable segments for the three and nine months ended June 30, 2025 and 2024 is shown in the following tables:
| Three Months Ended June 30, 2025
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 591,976 |  |  | $ | 265,099 |  |  | $ | 161,777 |  |  | $ | 22,072 |  |  |  |  | $ | 1,040,924 |
Intersegment | 238 |  |  | 704 |  |  | — |  |  | 20,826 |  |  | (21,768) |  |  | — |
Total sales | 592,214 |  |  | 265,803 |  |  | 161,777 |  |  | 42,898 |  |  | (21,768) |  |  | 1,040,924 |
Segment operating income (loss) | $ | 157,649 |  |  | $ | (166,513) |  |  | $ | 8,769 |  |  | $ | (70,004) |  |  | $ | 6,114 |  |  | $ | (63,985) |
| Three Months Ended June 30, 2024
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 620,040 |  |  | $ | 47,882 |  |  | $ | 27,218 |  |  | $ | 2,584 |  |  | $ | — |  |  | $ | 697,724 |
Intersegment | — |  |  | — |  |  | — |  |  | 14,677 |  |  | (14,677) |  |  | — |
Total sales | 620,040 |  |  | 47,882 |  |  | 27,218 |  |  | 17,261 |  |  | (14,677) |  |  | 697,724 |
Segment operating income (loss) | $ | 163,407 |  |  | $ | (2,748) |  |  | $ | 5,010 |  |  | $ | (4,791) |  |  | $ | (616) |  |  | $ | 160,262 |
| Nine Months Ended June 30, 2025
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 1,789,350 |  |  | $ | 560,319 |  |  | $ | 340,067 |  |  | $ | 44,529 |  |  | $ | — |  |  | $ | 2,734,265 |
Intersegment | 703 |  |  | 873 |  |  | — |  |  | 63,175 |  |  | (64,751) |  |  | — |
Total sales | 1,790,053 |  |  | 561,192 |  |  | 340,067 |  |  | 107,704 |  |  | (64,751) |  |  | 2,734,265 |
Segment operating income (loss) | $ | 461,803 |  |  | $ | (215,980) |  |  | $ | 29,649 |  |  | $ | (70,605) |  |  | $ | (2,247) |  |  | $ | 202,620 |
| Nine Months Ended June 30, 2024
(in thousands) | North America Solutions |  | International Solutions |  | Offshore Solutions |  | Other |  | Eliminations |  | Total
External sales | $ | 1,827,661 |  |  | $ | 148,512 |  |  | $ | 78,662 |  |  | $ | 7,979 |  |  | $ | — |  |  | $ | 2,062,814 |
Intersegment | — |  |  | — |  |  | — |  |  | 45,649 |  |  | (45,649) |  |  | — |
Total sales | 1,827,661 |  |  | 148,512 |  |  | 78,662 |  |  | 53,628 |  |  | (45,649) |  |  | 2,062,814 |
Segment operating income (loss) | $ | 455,030 |  |  | $ | 8,606 |  |  | $ | 8,140 |  |  | $ | (2,073) |  |  | $ | (1,054) |  |  | $ | 468,649 |
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 before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:
| Three Months Ended June 30, 2025 |  | Nine Months Ended June 30, 2025
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Segment operating income (loss) | $ | (63,985) |  |  | $ | 160,262 |  |  | $ | 202,620 |  |  | $ | 468,649 |
Gain on reimbursement of drilling equipment | 6,773 |  |  | 9,732 |  |  | 26,149 |  |  | 24,687 |
Other loss on sale of assets | (1,347) |  |  | (2,730) |  |  | (2,136) |  |  | (2,718) |
Corporate selling, general and administrative costs, corporate depreciation, corporate acquisition transaction costs, corporate asset impairment charges, and corporate restructuring charges | (69,710) |  |  | (53,807) |  |  | (221,853) |  |  | (140,756) |
Operating income (loss) | (128,269) |  |  | 113,457 |  |  | 4,780 |  |  | 349,862 |
Other income (expense) |  |  |  |  |  |  |
Interest and dividend income | 2,856 |  |  | 11,888 |  |  | 31,854 |  |  | 29,189 |
Interest expense | (29,200) |  |  | (4,336) |  |  | (79,836) |  |  | (12,969) |
Gain (loss) on investment securities | (337) |  |  | 389 |  |  | 14,084 |  |  | 102 |
Foreign currency exchange loss | (9,216) |  |  | (2,144) |  |  | (16,137) |  |  | (4,509) |
Other | 31,258 |  |  | 3,134 |  |  | 33,214 |  |  | 2,991 |
Total unallocated amounts | (4,639) |  |  | 8,931 |  |  | (16,821) |  |  | 14,804 |
Income (loss) before income taxes | $ | (132,908) |  |  | $ | 122,388 |  |  | $ | (12,041) |  |  | $ | 364,666 |
Schedule of Total Assets by Reportable Segment | The following table reconciles segment total assets to total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:
(in thousands) | June 30, 2025 |  | September 30, 2024
Total assets 1 |  |  |
North America Solutions | $ | 3,099,587 |  |  | $ | 3,225,410 |
International Solutions | 2,504,474 |  |  | 685,833 |
Offshore Solutions | 645,611 |  |  | 73,119 |
Other | 324,751 |  |  | 157,877 |
| 6,574,423 |  |  | 4,142,239 |
Investments and corporate operations | 287,580 |  |  | 1,639,659 |
| $ | 6,862,003 |  |  | $ | 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:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating revenues |  |  |  |  |  |  |
United States | $ | 659,364 |  |  | $ | 648,816 |  |  | $ | 1,876,295 |  |  | $ | 1,911,122 |
Saudi Arabia | 103,752 |  |  | — |  |  | 201,673 |  |  | — |
Norway | 82,854 |  |  | — |  |  | 161,159 |  |  | — |
Argentina | 39,634 |  |  | 38,064 |  |  | 119,245 |  |  | 107,964 |
Oman | 45,089 |  |  | — |  |  | 114,709 |  |  | — |
Azerbaijan | 38,922 |  |  | — |  |  | 81,681 |  |  | — |
Germany | 16,027 |  |  | — |  |  | 33,079 |  |  | — |
Bahrain | 8,304 |  |  | 4,602 |  |  | 21,576 |  |  | 13,634 |
Columbia | 9,742 |  |  | 31 |  |  | 20,688 |  |  | 8,976 |
Kuwait | 10,508 |  |  | — |  |  | 19,680 |  |  | — |
Other Foreign | 26,728 |  |  | 6,211 |  |  | 84,480 |  |  | 21,118 |
Total | $ | 1,040,924 |  |  | $ | 697,724 |  |  | $ | 2,734,265 |  |  | $ | 2,062,814 |
The following table presents property, plant and equipment by country based on the location of service provided:
(in thousands) | June 30, 2025 |  | September 30, 2024
Property, plant and equipment, net |  |  |
United States | $ | 2,576,767 |  |  | $ | 2,752,325 |
Saudi Arabia | 991,640 |  |  | 149,472 |
Oman | 449,849 |  |  | — |
Germany | 81,417 |  |  | — |
Argentina | 71,414 |  |  | 62,533 |
Kuwait | 41,947 |  |  | — |
Colombia | 38,520 |  |  | 19,243 |
Norway | 24,629 |  |  | — |
Bahrain | 23,221 |  |  | 19,807 |
Other Foreign | 108,752 |  |  | 12,897 |
Total | $ | 4,408,156 |  |  | $ | 3,016,277 |

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