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v3.23.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segments - Financial Information | The following tables summarize selected financial information relating to our business segments (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Drilling Services | $ | 503,767 |  |  | $ | 428,242 |  |  | $ | 1,496,520 |  |  | $ | 1,109,234 |
Completion Services |  | 459,574 |  |  |  | 287,664 |  |  |  | 1,003,083 |  |  |  | 715,630 |
Drilling Products |  | 46,570 |  |  |  | — |  |  |  | 46,570 |  |  |  | — |
Other(1) |  | 17,501 |  |  |  | 22,079 |  |  |  | 59,393 |  |  |  | 60,836 |
Elimination of intercompany revenues - Drilling Services (2) |  | (14,992 | ) |  |  | (10,217 | ) |  |  | (40,359 | ) |  |  | (25,905 | )
Elimination of intercompany revenues - Other (2) |  | (968 | ) |  |  | (265 | ) |  |  | (3,068 | ) |  |  | (679 | )
Total revenues | $ | 1,011,452 |  |  | $ | 727,503 |  |  | $ | 2,562,139 |  |  | $ | 1,859,116 |
Income (loss) before income taxes: |  |  |  |  |  |  |  |  |  |  |
Drilling Services | $ | 114,737 |  |  | $ | 46,530 |  |  | $ | 329,322 |  |  | $ | 68,629 |
Completion Services |  | 162 |  |  |  | 48,949 |  |  |  | 69,898 |  |  |  | 75,461 |
Drilling Products |  | (6,240 | ) |  |  | — |  |  |  | (6,240 | ) |  |  | — |
Other |  | 435 |  |  |  | 3,983 |  |  |  | 1,811 |  |  |  | 10,297 |
Corporate |  | (99,390 | ) |  |  | (23,117 | ) |  |  | (154,542 | ) |  |  | (60,161 | )
Interest income |  | 2,131 |  |  |  | 58 |  |  |  | 4,583 |  |  |  | 87 |
Interest expense |  | (15,625 | ) |  |  | (10,975 | ) |  |  | (34,189 | ) |  |  | (32,198 | )
Other |  | (618 | ) |  |  | (1,774 | ) |  |  | 3,191 |  |  |  | (2,644 | )
Income (loss) before income taxes | $ | (4,408 | ) |  | $ | 63,654 |  |  | $ | 213,834 |  |  | $ | 59,471 |
Depreciation, depletion, amortization and impairment: |  |  |  |  |  |  |  |  |  |  |
Drilling Services | $ | 90,668 |  |  | $ | 88,199 |  |  | $ | 272,361 |  |  | $ | 262,955 |
Completion Services |  | 83,338 |  |  |  | 24,746 |  |  |  | 135,339 |  |  |  | 73,244 |
Drilling Products |  | 17,075 |  |  |  | — |  |  |  | 17,075 |  |  |  | — |
Other |  | 5,319 |  |  |  | 7,920 |  |  |  | 21,946 |  |  |  | 20,495 |
Corporate |  | 1,235 |  |  |  | 1,285 |  |  |  | 5,908 |  |  |  | 3,947 |
Total depreciation, depletion, amortization and impairment | $ | 197,635 |  |  | $ | 122,150 |  |  | $ | 452,629 |  |  | $ | 360,641 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |
Drilling Services | $ | 89,242 |  |  | $ | 72,683 |  |  | $ | 261,155 |  |  | $ | 181,754 |
Completion Services |  | 56,464 |  |  |  | 46,653 |  |  |  | 107,529 |  |  |  | 114,669 |
Drilling Products |  | 7,940 |  |  |  | — |  |  |  | 7,940 |  |  |  | — |
Other |  | 5,972 |  |  |  | 6,457 |  |  |  | 18,387 |  |  |  | 19,654 |
Corporate |  | 804 |  |  |  | 562 |  |  |  | 15,406 |  |  |  | 1,476 |
Total capital expenditures | $ | 160,422 |  |  | $ | 126,355 |  |  | $ | 410,417 |  |  | $ | 317,553 |
| September 30, 2023 |  |  | December 31, 2022 |
Identifiable assets: |  |  |  |  |
Drilling Services | $ | 2,345,942 |  |  | $ | 2,348,177 |
Completion Services |  | 3,940,742 |  |  |  | 541,975 |
Drilling Products |  | 1,038,772 |  |  |  | — |
Other |  | 57,782 |  |  |  | 64,018 |
Corporate (3) |  | 37,336 |  |  |  | 189,653 |
Total assets | $ | 7,420,574 |  |  | $ | 3,143,823 |
(1) Other includes our oilfield rentals business and oil and natural gas working interests. (2) I ntercompany revenues consist of revenues from drilling services provided to our other operations, and revenues from other operations for services provided to drilling services, completion services 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.

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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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