XML 65 R38.htm IDEA: XBRL DOCUMENT

Segmented Information (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [abstract]

Summary of Operating Segments

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

Summary of Operating Segments by Geographic Locations

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