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Segmented Information | 12 Months Ended
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Dec. 31, 2021
Disclosure of operating segments [abstract] |
Segmented Information | NOTE 6. SEGMENTED INFORMATION The Corporation operates primarily in Canada, the United States and certain international locations, in two industry segments; Contract Drilling Services and Completion and Production Services. Contract Drilling Services includes drilling rigs, directional drilling (disposed in the third quarter of 2021), procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services includes service rigs, oilfield equipment rental, and camp and catering services.
Year ended December 31, 2021 |  | Contract Drilling Services |  | Completion and Production Services |  | Corporate and Other |  | Inter- Segment Eliminations |  | Total
Revenue |  | $ 877,943 |  | $ 113,488 |  | $ — |  | $ (4,584) |  | $ 986,847
Operating earnings (loss) |  | (16,867) |  | 8,927 |  | (73,098) |  | — |  | (81,038)
Depreciation and amortization |  | 256,072 |  | 15,405 |  | 10,849 |  | — |  | 282,326
Gain on asset disposals |  | (7,673) |  | (525) |  | (318) |  | — |  | (8,516)
Total assets |  | 2,392,382 |  | 127,233 |  | 142,137 |  | — |  | 2,661,752
Capital expenditures |  | 70,998 |  | 4,452 |  | 491 |  | — |  | 75,941
Year ended December 31, 2020 |  | Contract Drilling Services |  | Completion and Production Services |  | Corporate and Other |  | Inter- Segment Eliminations |  | Total
Revenue |  | $ 861,202 |  | $ 77,251 |  | $ — |  | $ (2,700) |  | $ 935,753
Operating earnings (loss) |  | 22,207 |  | (3,671) |  | (59,524) |  | — |  | (40,988)
Depreciation and amortization |  | 288,389 |  | 16,375 |  | 11,558 |  | — |  | 316,322
Gain on asset disposals |  | (10,171) |  | (1,447) |  | (313) |  | — |  | (11,931)
Total assets |  | 2,571,397 |  | 132,771 |  | 194,710 |  | — |  | 2,898,878
Capital expenditures |  | 57,741 |  | 3,362 |  | 489 |  | — |  | 61,592
A reconciliation of operating loss to net loss is as follows:
|  | 2021 |  | 2020
Operating earnings (loss) |  | $ (81,038) |  | $ (40,988)
Deduct: |  |  |  |
Foreign exchange |  | 393 |  | 4,542
Finance charges |  | 91,431 |  | 107,468
Loss on investments and other assets |  | 400 |  | —
Loss (gain) on redemption and repurchase of unsecured senior notes |  | 9,520 |  | (43,814)
Income taxes |  | (5,396) |  | 10,954
Net loss |  | $ (177,386) |  | $ (120,138)
The Corporation’s operations are carried on in the following geographic locations:
Year ended December 31, 2021 |  | United States |  | Canada |  | International |  | Total
Revenue |  | $ 398,024 |  | $ 443,772 |  | $ 145,051 |  | $ 986,847
Total assets |  | 1,247,173 |  | 959,163 |  | 455,416 |  | 2,661,752
Precision Drilling Corporation 2021 Annual Report 17
Year ended December 31, 2020 |  | United States |  | Canada |  | International |  | Total
Revenue |  | $ 444,052 |  | $ 305,613 |  | $ 186,088 |  | $ 935,753
Total assets |  | 1,339,945 |  | 1,053,921 |  | 505,012 |  | 2,898,878

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