Business Segments (Tables)

9 Months Ended

Sep. 30, 2017

Business Segments - Financial Information

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Revenues:
Contract drilling	$	301,954		$	123,863		$	731,496		$	407,855
Pressure pumping		362,441			78,165			793,659			248,428
Other operations (a)		22,832			4,284			48,092			12,973
Elimination of intercompany revenues (b)		(2,238	)		(179	)		(3,897	)		(277	)
Total revenues	$	684,989		$	206,133		$	1,569,350		$	668,979

Income (loss) before income taxes:
Contract drilling	$	(20,397	)	$	(67,786	)	$	(155,465	)	$	(173,331	)
Pressure pumping		16,841			(46,569	)		(1,414	)		(136,553	)
Other operations		(6,516	)		228			(13,030	)		(2,263	)
Corporate		(31,735	)		(13,400	)		(119,483	)		(41,138	)
Other operating income, net (c)		3,791			4,118			18,501			10,285
Interest income		101			63			1,149			273
Interest expense		(9,584	)		(10,244	)		(26,929	)		(31,722	)
Other		78			19			226			52
Loss before income taxes	$	(47,421	)	$	(133,571	)	$	(296,445	)	$	(374,397	)

Depreciation, depletion, amortization and impairment
Contract drilling	$	133,603		$	115,652		$	405,576		$	357,153
Pressure pumping		51,274			44,587			141,329			141,557
Other operations		9,534			1,856			19,826			8,393
Corporate		2,231			1,369			5,456			4,106
Total depreciation, depletion, amortization and impairment	$	196,642		$	163,464		$	572,187		$	511,209

Capital expenditures
Contract drilling	$	106,879		$	17,551		$	222,426		$	46,001
Pressure pumping		27,230			8,330			85,423			27,662
Other operations		8,647			2,401			21,016			5,621
Corporate		305			395			986			1,227
Total capital expenditures	$	143,061		$	28,677		$	329,851		$	80,511

	September 30,		December 31,
	2017		2016
Identifiable assets:
Contract drilling	$	3,950,748	$	3,032,819
Pressure pumping		1,227,384		653,630
Other operations		166,900		48,885
Corporate (d)		127,943		36,957
Total assets	$	5,472,975	$	3,772,291

(a)	Other operations includes the Company’s oilfield rental tools business, pipe handling components and related technology business, the oil and natural gas working interests and the Middle East/North Africa activities.

(b)	For 2016, intercompany revenues consists of contract drilling intercompany revenues for services provided to other operations. For 2017, intercompany revenues also includes revenues from other operations for services provided to contract drilling, pressure pumping and within other operations.

(c)

Other operating income includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes expenses related to certain legal settlements net of insurance reimbursements.

(d)	Corporate assets primarily include cash on hand and certain property and equipment.