Business Segments (Tables)

12 Months Ended

Dec. 31, 2014

Business Segments - Financial Information

The following tables summarize selected financial information relating to the Company’s business segments (in thousands):

	Years Ended December 31,
	2014			2013			2012
Revenues:
Contract drilling	$	1,843,707		$	1,684,878		$	1,826,519
Pressure pumping		1,294,569			979,166			841,771
Oil and natural gas		50,196			57,257			59,930
Total segment revenues		3,188,472			2,721,301			2,728,220
Elimination of intercompany revenues(a)		(6,181	)		(5,267	)		(4,806	)
Total revenues	$	3,182,291		$	2,716,034		$	2,723,414

Income before income taxes:
Contract drilling	$	241,851		$	266,262		$	349,393
Pressure pumping		89,081			87,244			132,795
Oil and natural gas		(5,482	)		19,948			27,210
		325,450			373,454			509,398
Corporate and other		(58,105	)		(54,647	)		(45,843	)
Net gain on asset disposals(b)		15,781			3,384			33,806
Interest income		979			918			554
Interest expense		(29,825	)		(28,359	)		(22,750	)
Other		3			1,691			508
Income before income taxes	$	254,283		$	296,441		$	475,673

Identifiable assets:
Contract drilling	$	4,000,576		$	3,569,588		$	3,538,289
Pressure pumping		1,186,010			761,199			784,128
Oil and natural gas		50,945			58,656			54,188
Corporate and other(c)		156,480			297,684			180,306
Total assets	$	5,394,011		$	4,687,127		$	4,556,911

Depreciation, depletion, amortization and impairment:
Contract drilling	$	524,023		$	438,728		$	390,316
Pressure pumping		147,595			129,984			111,062
Oil and natural gas		42,576			24,400			21,417
Corporate and other		4,536			4,357			3,819
Total depreciation, depletion, amortization and impairment	$	718,730		$	597,469		$	526,614

Capital expenditures:
Contract drilling	$	771,593		$	504,508		$	744,949
Pressure pumping		241,359			122,782			194,117
Oil and natural gas		36,683			31,245			29,888
Corporate and other		2,706			3,926			5,034
Total capital expenditures	$	1,052,341		$	662,461		$	973,988

(a)	Consists of contract drilling and, in 2014, pressure pumping intercompany revenues for services provided to the oil and natural gas exploration and production segment.

(b)	Net gains or losses associated with the disposal of assets relate to corporate strategy decisions of the executive management group. Accordingly, the related gains or losses have been separately presented and excluded from the results of specific segments.

(c)	Corporate and other assets primarily include cash on hand, income tax receivables and certain deferred tax assets.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details