Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

Business Segments - Financial Information

The following tables summarize selected financial information relating to our business segments (in thousands):

	Year Ended December 31,
	2020			2019			2018
Revenues:
Contract drilling	$	670,357		$	1,309,988		$	1,432,012
Pressure pumping		336,111			868,694			1,573,396
Directional drilling		73,356			188,786			209,275
Other operations ⁽¹⁾		57,962			122,885			131,028
Elimination of intercompany revenues - Contract drilling ⁽²⁾		(1,231	)		(1,638	)		(1,520	)
Elimination of intercompany revenues - Other operations ⁽²⁾		(12,306	)		(18,030	)		(17,194	)
Total revenues	$	1,124,249		$	2,470,685		$	3,326,997

Income (loss) before income taxes:
Contract drilling	$	(543,438	)	$	(151,329	)	$	(33,115	)
Pressure pumping		(166,666	)		(102,701	)		(77,328	)
Directional drilling		(40,612	)		(52,724	)		(117,497	)
Other operations		(41,685	)		(54,725	)		(18,221	)
Corporate		(94,251	)		(94,414	)		(76,016	)
Credit loss expense		(5,606	)		(5,683	)		—
Interest income		1,254			6,013			5,597
Interest expense		(40,770	)		(75,204	)		(51,578	)
Other		756			389			750
Loss before income taxes	$	(931,018	)	$	(530,378	)	$	(367,408	)

Depreciation, depletion, amortization and impairment:
Contract drilling	$	433,771		$	668,007		$	571,607
Pressure pumping		152,630			233,952			250,010
Directional drilling		36,504			52,223			45,317
Other operations		41,511			42,803			41,512
Corporate		6,494			6,888			7,872
Total depreciation, depletion, amortization and impairment	$	670,910		$	1,003,873		$	916,318

Capital expenditures:
Contract drilling	$	105,037		$	194,416		$	394,595
Pressure pumping		21,678			105,803			173,848
Directional drilling		4,681			15,549			35,929
Other operations		12,378			27,132			34,660
Corporate		1,707			4,612			2,426
Total capital expenditures	$	145,481		$	347,512		$	641,458

Identifiable assets:
Contract drilling	$	2,315,318		$	3,190,463		$	3,817,638
Pressure pumping		486,702			695,570			921,237
Directional drilling		107,807			164,273			239,341
Other operations		88,676			128,290			177,374
Corporate ⁽³⁾		300,566			261,019			314,276
Total assets	$	3,299,069		$	4,439,615		$	5,469,866

⁽¹⁾	Other operations includes our oilfield rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests.

⁽²⁾

Intercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations. These revenues are generally based on estimated external selling prices and are eliminated during consolidation.

⁽³⁾	Corporate assets primarily include cash on hand and certain property and equipment.