Business Segments (Tables)

12 Months Ended

Dec. 31, 2015

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

	Years Ended December 31,
	2015			2014			2013
Revenues:
Contract drilling	$	1,155,565		$	1,843,707		$	1,684,878
Pressure pumping		712,454			1,294,569			979,166
Oil and natural gas		24,931			50,196			57,257
Total segment revenues		1,892,950			3,188,472			2,721,301
Elimination of intercompany revenues(a)		(1,673	)		(6,181	)		(5,267	)
Total revenues	$	1,891,277		$	3,182,291		$	2,716,034

Income (loss) before income taxes:
Contract drilling	$	(91,230	)	$	241,851		$	266,262
Pressure pumping		(254,998	)		89,081			87,244
Oil and natural gas		(12,870	)		(5,482	)		19,948
		(359,098	)		325,450			373,454
Corporate and other		(58,487	)		(58,105	)		(54,647	)
Net gain on asset disposals(b)		10,613			15,781			3,384
Interest income		964			979			918
Interest expense		(36,475	)		(29,825	)		(28,359	)
Other		34			3			1,691
Income (loss) before income taxes	$	(442,449	)	$	254,283		$	296,441

Identifiable assets:
Contract drilling	$	3,457,044		$	4,000,576		$	3,569,588
Pressure pumping		813,704			1,186,010			761,199
Oil and natural gas		34,073			50,945			58,656
Corporate and other(c)		228,496			156,480			297,684
Total assets	$	4,533,317		$	5,394,011		$	4,687,127

Depreciation, depletion, amortization and impairment:
Contract drilling	$	618,434		$	524,023		$	438,728
Pressure pumping		214,552			147,595			129,984
Oil and natural gas		26,301			42,576			24,400
Corporate and other		5,472			4,536			4,357
Total depreciation, depletion, amortization and impairment	$	864,759		$	718,730		$	597,469

Capital expenditures:
Contract drilling	$	527,054		$	771,593		$	504,508
Pressure pumping		197,577			241,359			122,782
Oil and natural gas		16,625			36,683			31,245
Corporate and other		2,520			2,706			3,926
Total capital expenditures	$	743,776		$	1,052,341		$	662,461

(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.