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Segmented Information | 12 Months Ended
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Dec. 31, 2024
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, 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. The following disclosure has been expanded in the current and prior periods to comply with the updated IFRS 8 requirements and IFRIC agenda decisions on segment reporting.
Year ended December 31, 2024 |  | Contract Drilling Services |  |  | Completion and Production Services |  |  | Corporate and Other |  |  | Inter- Segment Eliminations |  |  | Total |
Revenue |  | $ | 1,617,735 |  |  | $ | 294,817 |  |  | $ | — |  |  | $ | (10,224 | ) |  | $ | 1,902,328 |
Earnings before income taxes, loss on investments and other assets, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization |  |  | 532,345 |  |  |  | 66,681 |  |  |  | (77,805 | ) |  |  | — |  |  |  | 521,221 |
Depreciation and amortization |  |  | 279,247 |  |  |  | 20,831 |  |  |  | 9,236 |  |  |  | — |  |  |  | 309,314 |
Gain on asset disposals |  |  | (8,745 | ) |  |  | (4,524 | ) |  |  | (2,879 | ) |  |  | — |  |  |  | (16,148 | )
Foreign exchange |  |  | 1,164 |  |  |  | (46 | ) |  |  | 1,141 |  |  |  | — |  |  |  | 2,259 |
Finance charges |  |  | 1,707 |  |  |  | 422 |  |  |  | 67,624 |  |  |  | — |  |  |  | 69,753 |
Loss on investments and other assets |  |  | — |  |  |  | — |  |  |  | 1,484 |  |  |  | — |  |  |  | 1,484 |
Income taxes |  |  | 38,869 |  |  |  | 9,155 |  |  |  | (4,795 | ) |  |  | — |  |  |  | 43,229 |
Net earnings for reportable segments |  |  | 220,103 |  |  |  | 40,843 |  |  |  | (149,616 | ) |  |  | — |  |  |  | 111,330 |
Total assets |  |  | 2,562,436 |  |  |  | 241,277 |  |  |  | 152,602 |  |  |  | — |  |  |  | 2,956,315 |
Capital expenditures |  |  | 197,010 |  |  |  | 17,495 |  |  |  | 2,193 |  |  |  | — |  |  |  | 216,698 |
Year ended December 31, 2023 |  | Contract Drilling Services |  |  | Completion and Production Services |  |  | Corporate and Other |  |  | Inter- Segment Eliminations |  |  | Total |
Revenue |  | $ | 1,704,265 |  |  | $ | 240,716 |  |  | $ | — |  |  | $ | (7,127 | ) |  | $ | 1,937,854 |
Earnings before income taxes, gain on repurchase of unsecured senior notes, gain on acquisition, loss on investments and other assets, finance charges, foreign exchange, loss on asset decommissioning, gain on asset disposals and depreciation and amortization |  |  | 630,761 |  |  |  | 51,224 |  |  |  | (70,867 | ) |  |  | — |  |  |  | 611,118 |
Depreciation and amortization |  |  | 269,133 |  |  |  | 14,654 |  |  |  | 13,770 |  |  |  | — |  |  |  | 297,557 |
Gain on asset disposals |  |  | (23,378 | ) |  |  | (973 | ) |  |  | (118 | ) |  |  | — |  |  |  | (24,469 | )
Loss on asset decommissioning |  |  | 9,592 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,592 |
Foreign exchange |  |  | 229 |  |  |  | (9 | ) |  |  | (1,887 | ) |  |  | — |  |  |  | (1,667 | )
Finance charges |  |  | 1,489 |  |  |  | 467 |  |  |  | 81,458 |  |  |  | — |  |  |  | 83,414 |
Loss on investments and other assets |  |  | — |  |  |  | — |  |  |  | 6,810 |  |  |  | — |  |  |  | 6,810 |
Gain on acquisition |  |  | — |  |  |  | — |  |  |  | (25,761 | ) |  |  | — |  |  |  | (25,761 | )
Gain on repurchase of unsecured senior notes |  |  | — |  |  |  | — |  |  |  | (137 | ) |  |  | — |  |  |  | (137 | )
Income taxes |  |  | (122,065 | ) |  |  | (25,362 | ) |  |  | 123,962 |  |  |  | — |  |  |  | (23,465 | )
Net earnings for reportable segments |  |  | 495,761 |  |  |  | 62,447 |  |  |  | (268,964 | ) |  |  | — |  |  |  | 289,244 |
Total assets |  |  | 2,565,495 |  |  |  | 271,724 |  |  |  | 181,816 |  |  |  | — |  |  |  | 3,019,035 |
Capital expenditures |  |  | 213,660 |  |  |  | 9,984 |  |  |  | 3,105 |  |  |  | — |  |  |  | 226,749 |
The Corporation’s operations are carried on in the following geographic locations:
Year ended December 31, 2024 |  | United States |  |  | Canada |  |  | International |  |  | Total |
Revenue |  | $ | 590,641 |  |  | $ | 1,106,163 |  |  | $ | 205,524 |  |  | $ | 1,902,328 |
Total assets |  |  | 1,292,983 |  |  |  | 1,206,868 |  |  |  | 456,464 |  |  |  | 2,956,315 |
Year ended December 31, 2023 |  | United States |  |  | Canada |  |  | International |  |  | Total |
Revenue |  | $ | 861,915 |  |  | $ | 929,639 |  |  | $ | 146,300 |  |  | $ | 1,937,854 |
Total assets |  |  | 1,226,256 |  |  |  | 1,246,069 |  |  |  | 546,710 |  |  |  | 3,019,035 |

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