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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2013
Condensed Consolidating Financial Information |
Condensed Consolidating Balance Sheets |
|  | June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
|  | ASSETS |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,509 |  | $ | 12,778 |  | $ | 491,841 |  | $ | — |  | $ | 508,128 |
Short-term investments |  | — |  | — |  | 99,832 |  | — |  | 99,832 |
Assets held for sale |  | — |  | — |  | 351,263 |  | — |  | 351,263 |
Accounts receivable, net |  | — |  | — |  | 1,342,386 |  | — |  | 1,342,386 |
Inventory |  | — |  | — |  | 235,042 |  | — |  | 235,042 |
Deferred income taxes |  | — |  | — |  | 103,779 |  | — |  | 103,779 |
Other current assets |  | 800 |  | 22,359 |  | 229,243 |  | — |  | 252,402 |
Total current assets |  | 4,309 |  | 35,137 |  | 2,853,386 |  | — |  | 2,892,832 |
Long-term investments |  | — |  | — |  | 3,629 |  | — |  | 3,629 |
Property, plant and equipment, net |  | — |  | 35,557 |  | 8,542,029 |  | — |  | 8,577,586 |
Goodwill |  | — |  | — |  | 487,252 |  | — |  | 487,252 |
Intercompany receivables |  | 172,413 |  | 3,893 |  | 1,019,175 |  | (1,195,481 | ) | — |
Investment in unconsolidated affiliates |  | 5,746,083 |  | 5,812,170 |  | 1,630,573 |  | (13,120,382 | ) | 68,444 |
Other long-term assets |  | — |  | 29,572 |  | 207,588 |  | — |  | 237,160 |
Total assets |  | $ | 5,922,805 |  | $ | 5,916,329 |  | $ | 14,743,632 |  | $ | (14,315,863 | ) | $ | 12,266,903 |
|  | LIABILITIES AND EQUITY |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Current portion of debt |  | $ | — |  | $ | — |  | $ | 11,445 |  | $ | — |  | $ | 11,445 |
Trade accounts payable |  | 624 |  | 22 |  | 497,435 |  | — |  | 498,081 |
Accrued liabilities |  | (381 | ) | 90,965 |  | 544,251 |  | — |  | 634,835 |
Income taxes payable |  | — |  | — |  | 35,795 |  | — |  | 35,795 |
Total current liabilities |  | 243 |  | 90,987 |  | 1,088,926 |  | — |  | 1,180,156 |
Long-term debt |  | — |  | 4,085,139 |  | (13,948 | ) | — |  | 4,071,191 |
Other long-term liabilities |  | — |  | 31,027 |  | 433,438 |  | — |  | 464,465 |
Deferred income taxes |  | — |  | (72,083 | ) | 620,701 |  | — |  | 548,618 |
Intercompany payable |  | — |  | 1,195,481 |  | — |  | (1,195,481 | ) | — |
Total liabilities |  | 243 |  | 5,330,551 |  | 2,129,117 |  | (1,195,481 | ) | 6,264,430 |
Subsidiary preferred stock |  | — |  | — |  | 69,188 |  | — |  | 69,188 |
Shareholders’ equity |  | 5,922,562 |  | 585,778 |  | 12,534,605 |  | (13,120,382 | ) | 5,922,563 |
Noncontrolling interest |  | — |  | — |  | 10,722 |  | — |  | 10,722 |
Total equity |  | 5,922,562 |  | 585,778 |  | 12,545,327 |  | (13,120,382 | ) | 5,933,285 |
Total liabilities and equity |  | $ | 5,922,805 |  | $ | 5,916,329 |  | $ | 14,743,632 |  | $ | (14,315,863 | ) | $ | 12,266,903 |
|  | December 31, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
|  | ASSETS |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,639 |  | $ | 106,778 |  | $ | 416,505 |  | $ | — |  | $ | 524,922 |
Short-term investments |  | — |  | — |  | 253,282 |  | — |  | 253,282 |
Assets held for sale |  | — |  | — |  | 383,857 |  | — |  | 383,857 |
Accounts receivable, net |  | — |  | — |  | 1,382,623 |  | — |  | 1,382,623 |
Inventory |  | — |  | — |  | 251,133 |  | — |  | 251,133 |
Deferred income taxes |  | — |  | — |  | 110,480 |  | — |  | 110,480 |
Other current assets |  | 50 |  | — |  | 226,510 |  | — |  | 226,560 |
Total current assets |  | 1,689 |  | 106,778 |  | 3,024,390 |  | — |  | 3,132,857 |
Long-term investments |  | — |  | — |  | 4,269 |  | — |  | 4,269 |
Property, plant and equipment, net |  | — |  | 37,300 |  | 8,674,788 |  | — |  | 8,712,088 |
Goodwill |  | — |  | — |  | 472,326 |  | — |  | 472,326 |
Intercompany receivables |  | 174,948 |  | 1,690,636 |  | 670,404 |  | (2,535,988 | ) | — |
Investment in unconsolidated affiliates |  | 5,769,518 |  | 5,129,458 |  | 395,246 |  | (11,232,532 | ) | 61,690 |
Other long-term assets |  | — |  | 31,904 |  | 240,888 |  | — |  | 272,792 |
Total assets |  | $ | 5,946,155 |  | $ | 6,996,076 |  | $ | 13,482,311 |  | $ | (13,768,520 | ) | $ | 12,656,022 |
|  | LIABILITIES AND EQUITY |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Current portion of debt |  | $ | — |  | $ | — |  | $ | 364 |  | $ | — |  | $ | 364 |
Trade accounts payable |  | 116 |  | 23 |  | 498,871 |  | — |  | 499,010 |
Accrued liabilities |  | 1,110 |  | 91,520 |  | 506,750 |  | — |  | 599,380 |
Income taxes payable |  | — |  | — |  | 33,628 |  | — |  | 33,628 |
Total current liabilities |  | 1,226 |  | 91,543 |  | 1,039,613 |  | — |  | 1,132,382 |
Long-term debt |  | — |  | 4,379,263 |  | 73 |  | — |  | 4,379,336 |
Other long-term liabilities |  | — |  | 30,983 |  | 487,681 |  | — |  | 518,664 |
Deferred income taxes |  | — |  | (24,906 | ) | 624,241 |  | — |  | 599,335 |
Intercompany payable |  | — |  | 2,535,988 |  | — |  | (2,535,988 | ) | — |
Total liabilities |  | 1,226 |  | 7,012,871 |  | 2,151,608 |  | (2,535,988 | ) | 6,629,717 |
Subsidiary preferred stock |  | — |  | — |  | 69,188 |  | — |  | 69,188 |
Shareholders’ equity |  | 5,944,929 |  | (16,795 | ) | 11,249,327 |  | (11,232,532 | ) | 5,944,929 |
Noncontrolling interest |  | — |  | — |  | 12,188 |  | — |  | 12,188 |
Total equity |  | 5,944,929 |  | (16,795 | ) | 11,261,515 |  | (11,232,532 | ) | 5,957,117 |
Total liabilities and equity |  | $ | 5,946,155 |  | $ | 6,996,076 |  | $ | 13,482,311 |  | $ | (13,768,520 | ) | $ | 12,656,022
Condensed Consolidating Statements of Income (Loss) |
|  | Three Months Ended June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 1,491,586 |  | $ | — |  | $ | 1,491,586 |
Earnings from unconsolidated affiliates |  | — |  | — |  | 1,360 |  | — |  | 1,360 |
Earnings (losses) from consolidated affiliates |  | (1,005 | ) | 13,700 |  | (26,331 | ) | 13,636 |  | — |
Investment income (loss) |  | 1 |  | 36 |  | 17,057 |  | (2,273 | ) | 14,821 |
Intercompany interest income |  | — |  | 32 |  | — |  | (32 | ) | — |
Total revenues and other income |  | (1,004 | ) | 13,768 |  | 1,483,672 |  | 11,331 |  | 1,507,767 |
Costs and other deductions: |  |  |  |  |  |  |  |  |  |  |
Direct costs |  | — |  | — |  | 999,192 |  | — |  | 999,192 |
General and administrative expenses |  | 3,221 |  | 390 |  | 129,137 |  | (136 | ) | 132,612 |
Depreciation and amortization |  | — |  | 903 |  | 269,296 |  | — |  | 270,199 |
Interest expense |  | — |  | 62,405 |  | (2,134 | ) | — |  | 60,271 |
Intercompany interest expense |  | — |  | — |  | 32 |  | (32 | ) | — |
Losses (gains) on sales of long-lived assets and other expense (income), net |  | 136 |  | (89 | ) | 9,129 |  | 136 |  | 9,312 |
Total costs and other deductions |  | 3,357 |  | 63,609 |  | 1,404,652 |  | (32 | ) | 1,471,586 |
Income from continuing operations before income taxes |  | (4,361 | ) | (49,841 | ) | 79,020 |  | 11,363 |  | 36,181 |
Income tax expense (benefit) |  | — |  | (23,510 | ) | 29,682 |  | — |  | 6,172 |
Subsidiary preferred stock dividend |  | — |  | — |  | 750 |  | — |  | 750 |
Income (loss) from continuting operations, net of tax |  | (4,361 | ) | (26,331 | ) | 48,588 |  | 11,363 |  | 29,259 |
Income (loss) from discontinued operations, net of tax |  | — |  | — |  | (28,004 | ) | — |  | (28,004 | )
Net income (loss) |  | (4,361 | ) | (26,331 | ) | 20,584 |  | 11,363 |  | 1,255 |
Less: Net (income) loss attributable to noncontrolling interest |  | — |  | — |  | (5,616 | ) | — |  | (5,616 | )
Net income (loss) attributable to Nabors |  | $ | (4,361 | ) | $ | (26,331 | ) | $ | 14,968 |  | $ | 11,363 |  | $ | (4,361 | )
|  | Three Months Ended June 30, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 1,737,114 |  | $ | — |  | $ | 1,737,114 |
Earnings from unconsolidated affiliates |  | — |  | — |  | (134,317 | ) | — |  | (134,317 | )
Earnings (losses) from consolidated affiliates |  | (70,408 | ) | (35,150 | ) | (61,938 | ) | 167,496 |  | — |
Investment income (loss) |  | — |  | 16 |  | 5,352 |  | — |  | 5,368 |
Intercompany interest income |  | — |  | 17,078 |  | — |  | (17,078 | ) | — |
Total revenues and other income |  | (70,408 | ) | (18,056 | ) | 1,546,211 |  | 150,418 |  | 1,608,165 |
Costs and other deductions: |  |  |  |  |  |  |  |  |  |  |
Direct costs |  | — |  | — |  | 1,123,256 |  | — |  | 1,123,256 |
General and administrative expenses |  | 2,022 |  | 50 |  | 131,899 |  | (359 | ) | 133,612 |
Depreciation and amortization |  | — |  | 903 |  | 260,113 |  | — |  | 261,016 |
Interest expense |  | — |  | 68,268 |  | (4,809 | ) | — |  | 63,459 |
Intercompany interest expense |  | — |  | — |  | 17,078 |  | (17,078 | ) | — |
Losses (gains) on sales of long-lived assets and other expense (income), net |  | 359 |  | (546 | ) | 160,745 |  | 359 |  | 160,917 |
Total costs and other deductions |  | 2,381 |  | 68,675 |  | 1,688,282 |  | (17,078 | ) | 1,742,260 |
Income from continuing operations before income taxes |  | (72,789 | ) | (86,731 | ) | (142,071 | ) | 167,496 |  | (134,095 | )
Income tax expense (benefit) |  | — |  | (19,085 | ) | (17,107 | ) | — |  | (36,192 | )
Subsidiary preferred stock dividend |  | — |  | — |  | 750 |  | — |  | 750 |
Income (loss) from continuting operations, net of tax |  | (72,789 | ) | (67,646 | ) | (125,714 | ) | 167,496 |  | (98,653 | )
Income (loss) from discontinued operations, net of tax |  | — |  | — |  | 24,690 |  | — |  | 24,690 |
Net income (loss) |  | (72,789 | ) | (67,646 | ) | (101,024 | ) | 167,496 |  | (73,963 | )
Less: Net (income) loss attributable to noncontrolling interest |  | — |  | — |  | 1,174 |  | — |  | 1,174 |
Net income (loss) attributable to Nabors |  | $ | (72,789 | ) | $ | (67,646 | ) | $ | (99,850 | ) | $ | 167,496 |  | $ | (72,789 | )
|  | Six Months Ended June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 3,070,231 |  | $ | — |  | $ | 3,070,231 |
Earnings from unconsolidated affiliates |  | — |  | — |  | 4,255 |  | — |  | 4,255 |
Earnings (losses) from consolidated affiliates |  | 106,868 |  | 56,020 |  | (24,308 | ) | (138,580 | ) | — |
Investment income (loss) |  | 1 |  | 52 |  | 96,462 |  | (2,273 | ) | 94,242 |
Intercompany interest income |  | — |  | 61 |  | — |  | (61 | ) | — |
Total revenues and other income |  | 106,869 |  | 56,133 |  | 3,146,640 |  | (140,914 | ) | 3,168,728 |
Costs and other deductions: |  |  |  |  |  |  |  |  |  |  |
Direct costs |  | — |  | — |  | 2,025,234 |  | — |  | 2,025,234 |
General and administrative expenses |  | 5,055 |  | 427 |  | 259,955 |  | (280 | ) | 265,157 |
Depreciation and amortization |  | — |  | 1,805 |  | 541,759 |  | — |  | 543,564 |
Interest expense |  | — |  | 125,454 |  | (5,175 | ) | — |  | 120,279 |
Intercompany interest expense |  | — |  | — |  | 61 |  | (61 | ) | — |
Losses (gains) on sales of long-lived assets and other expense (income), net |  | 7,054 |  | (68 | ) | 61,853 |  | 280 |  | 69,119 |
Total costs and other deductions |  | 12,109 |  | 127,618 |  | 2,883,687 |  | (61 | ) | 3,023,353 |
Income from continuing operations before income taxes |  | 94,760 |  | (71,485 | ) | 262,953 |  | (140,853 | ) | 145,375 |
Income tax expense (benefit) |  | — |  | (47,177 | ) | 64,621 |  | — |  | 17,444 |
Subsidiary preferred stock dividend |  | — |  | — |  | 1,500 |  | — |  | 1,500 |
Income (loss) from continuting operations, net of tax |  | 94,760 |  | (24,308 | ) | 196,832 |  | (140,853 | ) | 126,431 |
Income (loss) from discontinued operations, net of tax |  | — |  | — |  | (25,958 | ) | — |  | (25,958 | )
Net income (loss) |  | 94,760 |  | (24,308 | ) | 170,874 |  | (140,853 | ) | 100,473 |
Less: Net (income) loss attributable to noncontrolling interest |  | — |  | — |  | (5,713 | ) | — |  | (5,713 | )
Net income (loss) attributable to Nabors |  | $ | 94,760 |  | $ | (24,308 | ) | $ | 165,161 |  | $ | (140,853 | ) | $ | 94,760 |
|  | Six Months Ended June 30, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 3,627,540 |  | $ | — |  | $ | 3,627,540 |
Earnings from unconsolidated affiliates |  | — |  | — |  | (202,986 | ) | — |  | (202,986 | )
Earnings (losses) from consolidated affiliates |  | 65,471 |  | 19,377 |  | (33,576 | ) | (51,272 | ) | — |
Investment income (loss) |  | — |  | 16 |  | 25,604 |  | — |  | 25,620 |
Intercompany interest income |  | — |  | 34,010 |  | — |  | (34,010 | ) | — |
Total revenues and other income |  | 65,471 |  | 53,403 |  | 3,416,582 |  | (85,282 | ) | 3,450,174 |
Costs and other deductions: |  |  |  |  |  |  |  |  |  |  |
Direct costs |  | — |  | — |  | 2,308,072 |  | — |  | 2,308,072 |
General and administrative expenses |  | 3,549 |  | 190 |  | 266,841 |  | (622 | ) | 269,958 |
Depreciation and amortization |  | — |  | 1,805 |  | 506,832 |  | — |  | 508,637 |
Interest expense |  | — |  | 136,436 |  | (10,323 | ) | — |  | 126,113 |
Intercompany interest expense |  | — |  | — |  | 34,010 |  | (34,010 | ) | — |
Losses (gains) on sales of long-lived assets and other expense (income), net |  | 621 |  | (979 | ) | 158,813 |  | 622 |  | 159,077 |
Total costs and other deductions |  | 4,170 |  | 137,452 |  | 3,264,245 |  | (34,010 | ) | 3,371,857 |
Income from continuing operations before income taxes |  | 61,301 |  | (84,049 | ) | 152,337 |  | (51,272 | ) | 78,317 |
Income tax expense (benefit) |  | — |  | (38,268 | ) | 71,120 |  | — |  | 32,852 |
Subsidiary preferred stock dividend |  | — |  | — |  | 1,500 |  | — |  | 1,500 |
Income (loss) from continuting operations, net of tax |  | 61,301 |  | (45,781 | ) | 79,717 |  | (51,272 | ) | 43,965 |
Income (loss) from discontinued operations, net of tax |  | — |  | — |  | 15,895 |  | — |  | 15,895 |
Net income (loss) |  | 61,301 |  | (45,781 | ) | 95,612 |  | (51,272 | ) | 59,860 |
Less: Net (income) loss attributable to noncontrolling interest |  | — |  | — |  | 1,441 |  | — |  | 1,441 |
Net income (loss) attributable to Nabors |  | $ | 61,301 |  | $ | (45,781 | ) | $ | 97,053 |  | $ | (51,272 | ) | $ | 61,301
Condensed Consolidating Statements Of Other Comprehensive Income |
|  | Three Months Ended June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net income (loss) attributable to Nabors |  | $ | (4,361 | ) | $ | (26,331 | ) | $ | 14,968 |  | $ | 11,363 |  | $ | (4,361 | )
Other comprehensive income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |
Translation adjustment attributable to Nabors |  | (29,304 | ) | (94 | ) | (29,398 | ) | 29,492 |  | (29,304 | )
Unrealized gains/(losses) on marketable securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gains/(losses) on marketable securities |  | (5,137 | ) | 48 |  | (5,089 | ) | 5,041 |  | (5,137 | )
Less: reclassification adjustment for (gains)/losses on marketable securities |  | (12,183 | ) | (5,928 | ) | (18,111 | ) | 24,039 |  | (12,183 | )
Unrealized gains/(losses) on marketable securities |  | (17,320 | ) | (5,880 | ) | (23,200 | ) | 29,080 |  | (17,320 | )
Pension liability amortization and adjustment |  | 281 |  | 281 |  | 562 |  | (843 | ) | 281 |
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges |  | 153 |  | 153 |  | 153 |  | (306 | ) | 153 |
Other comprehensive income (loss) before taxes |  | (46,190 | ) | (5,540 | ) | (51,883 | ) | 57,423 |  | (46,190 | )
Income tax expense (benefit) related to items of other comprehensive income (loss) |  | (2,063 | ) | (2,063 | ) | (4,185 | ) | 6,248 |  | (2,063 | )
Other comprehensive income (loss), net of tax |  | (44,127 | ) | (3,477 | ) | (47,698 | ) | 51,175 |  | (44,127 | )
Comprehensive income (loss) attributable to Nabors |  | (48,488 | ) | (29,808 | ) | (32,730 | ) | 62,538 |  | (48,488 | )
Net income (loss) attributable to noncontrolling interest |  | 5,616 |  | — |  | 5,616 |  | (5,616 | ) | 5,616 |
Translation adjustment to noncontrolling interest |  | 613 |  | — |  | 613 |  | (613 | ) | 613 |
Comprehensive income (loss) attributable to noncontrolling interest |  | 6,229 |  | — |  | 6,229 |  | (6,229 | ) | 6,229 |
Comprehensive income (loss) |  | $ | (42,259 | ) | $ | (29,808 | ) | $ | (26,501 | ) | $ | 56,309 |  | $ | (42,259 | )
|  | Three Months Ended June 30, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net income (loss) attributable to Nabors |  | $ | (72,789 | ) | $ | (67,646 | ) | $ | (99,850 | ) | $ | 167,496 |  | $ | (72,789 | )
Other comprehensive income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |
Translation adjustment attributable to Nabors |  | (19,659 | ) | 52 |  | (19,606 | ) | 19,554 |  | (19,659 | )
Unrealized gains/(losses) on marketable securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gains/(losses) on marketable securities |  | (5,008 | ) | (52 | ) | (5,061 | ) | 5,113 |  | (5,008 | )
Less: reclassification adjustment for (gains)/losses on marketable securities |  | (19 | ) | — |  | (19 | ) | 19 |  | (19 | )
Unrealized gains/(losses) on marketable securities |  | (5,027 | ) | (52 | ) | (5,080 | ) | 5,132 |  | (5,027 | )
Pension liability amortization and adjustment |  | 260 |  | 260 |  | 520 |  | (780 | ) | 260 |
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges |  | 191 |  | 191 |  | 191 |  | (382 | ) | 191 |
Other comprehensive income (loss) before taxes |  | (24,235 | ) | 451 |  | (23,975 | ) | 23,524 |  | (24,235 | )
Income tax expense (benefit) related to items of other comprehensive income (loss) |  | 140 |  | 140 |  | 220 |  | (360 | ) | 140 |
Other comprehensive income (loss), net of tax |  | (24,375 | ) | 311 |  | (24,195 | ) | 23,884 |  | (24,375 | )
Comprehensive income (loss) attributable to Nabors |  | (97,164 | ) | (67,335 | ) | (124,045 | ) | 191,380 |  | (97,164 | )
Net income (loss) attributable to noncontrolling interest |  | (1,174 | ) | — |  | (1,174 | ) | 1,174 |  | (1,174 | )
Translation adjustment to noncontrolling interest |  | (216 | ) | — |  | (216 | ) | 216 |  | (216 | )
Comprehensive income (loss) attributable to noncontrolling interest |  | (1,390 | ) | — |  | (1,390 | ) | 1,390 |  | (1,390 | )
Comprehensive income (loss) |  | $ | (98,554 | ) | $ | (67,335 | ) | $ | (125,435 | ) | $ | 192,770 |  | $ | (98,554 | )
|  | Six Months Ended June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net income (loss) attributable to Nabors |  | $ | 94,760 |  | $ | (24,308 | ) | $ | 165,161 |  | $ | (140,853 | ) | $ | 94,760 |
Other comprehensive income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |
Translation adjustment attributable to Nabors |  | (52,569 | ) | (146 | ) | (52,715 | ) | 52,861 |  | (52,569 | )
Unrealized gains/(losses) on marketable securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gains/(losses) on marketable securities |  | 5,002 |  | 233 |  | 5,235 |  | (5,468 | ) | 5,002 |
Less: reclassification adjustment for (gains)/losses on marketable securities |  | (88,157 | ) | (7,114 | ) | (95,271 | ) | 102,385 |  | (88,157 | )
Unrealized gains/(losses) on marketable securities |  | (83,155 | ) | (6,881 | ) | (90,036 | ) | 96,917 |  | (83,155 | )
Pension liability amortization and adjustment |  | 562 |  | 562 |  | 1,124 |  | (1,686 | ) | 562 |
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges |  | 306 |  | 306 |  | 306 |  | (612 | ) | 306 |
Other comprehensive income (loss) before taxes |  | (134,856 | ) | (6,159 | ) | (141,321 | ) | 147,480 |  | (134,856 | )
Income tax expense (benefit) related to items of other comprehensive income (loss) |  | (2,277 | ) | (2,277 | ) | (4,672 | ) | 6,949 |  | (2,277 | )
Other comprehensive income (loss), net of tax |  | (132,579 | ) | (3,882 | ) | (136,649 | ) | 140,531 |  | (132,579 | )
Comprehensive income (loss) attributable to Nabors |  | (37,819 | ) | (28,190 | ) | 28,512 |  | (322 | ) | (37,819 | )
Net income (loss) attributable to noncontrolling interest |  | 5,713 |  | — |  | 5,713 |  | (5,713 | ) | 5,713 |
Translation adjustment to noncontrolling interest |  | (801 | ) | — |  | (801 | ) | 801 |  | (801 | )
Comprehensive income (loss) attributable to noncontrolling interest |  | 4,912 |  | — |  | 4,912 |  | (4,912 | ) | 4,912 |
Comprehensive income (loss) |  | $ | (32,907 | ) | $ | (28,190 | ) | $ | 33,424 |  | $ | (5,234 | ) | $ | (32,907 | )
|  | Six Months Ended June 30, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net income (loss) attributable to Nabors |  | $ | 61,301 |  | $ | (45,781 | ) | $ | 97,053 |  | $ | (51,272 | ) | $ | 61,301 |
Other comprehensive income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |
Translation adjustment attributable to Nabors |  | (2,392 | ) | (1 | ) | (2,392 | ) | 2,392 |  | (2,393 | )
Unrealized gains/(losses) on marketable securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gains/(losses) on marketable securities |  | 7,215 |  | 11 |  | 7,226 |  | (7,237 | ) | 7,215 |
Less: reclassification adjustment for (gains)/losses on marketable securities |  | (12,484 | ) | (10,288 | ) | (22,772 | ) | 33,060 |  | (12,484 | )
Unrealized gains/(losses) on marketable securities |  | (5,269 | ) | (10,277 | ) | (15,546 | ) | 25,823 |  | (5,269 | )
Pension liability amortization and adjustment |  | 519 |  | 519 |  | 1,040 |  | (1,558 | ) | 520 |
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges |  | 382 |  | 382 |  | 382 |  | (764 | ) | 382 |
Other comprehensive income (loss) before taxes |  | (6,760 | ) | (9,377 | ) | (16,516 | ) | 25,893 |  | (6,760 | )
Income tax expense (benefit) related to items of other comprehensive income (loss) |  | (3,584 | ) | (3,584 | ) | (7,288 | ) | 10,872 |  | (3,584 | )
Other comprehensive income (loss), net of tax |  | (3,176 | ) | (5,793 | ) | (9,228 | ) | 15,021 |  | (3,176 | )
Comprehensive income (loss) attributable to Nabors |  | 58,125 |  | (51,574 | ) | 87,825 |  | (36,251 | ) | 58,125 |
Net income (loss) attributable to noncontrolling interest |  | (1,441 | ) | — |  | (1,441 | ) | 1,441 |  | (1,441 | )
Translation adjustment to noncontrolling interest |  | 27 |  | — |  | 27 |  | (27 | ) | 27 |
Comprehensive income (loss) attributable to noncontrolling interest |  | (1,414 | ) | — |  | (1,414 | ) | 1,414 |  | (1,414 | )
Comprehensive income (loss) |  | $ | 56,711 |  | $ | (51,574 | ) | $ | 86,411 |  | $ | (34,837 | ) | $ | 56,711
Condensed Consolidating Statements of Cash Flows |
|  | Six Months Ended June 30, 2013 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net cash provided by (used for) operating activities |  | $ | (4,554 | ) | $ | (147,280 | ) | $ | 787,443 |  | $ | 29,799 |  | $ | 665,408 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Sales and maturities of investments |  | — |  | — |  | 163,161 |  | — |  | 163,161 |
Proceeds from sale of unconsolidated affiliates |  | — |  | — |  | 10,000 |  | — |  | 10,000 |
Investment in unconsolidated affiliates |  | — |  | — |  | (3,927 | ) | — |  | (3,927 | )
Cash paid for acquisition of businesses, net |  | — |  | — |  | (37,516 | ) | — |  | (37,516 | )
Capital expenditures |  | — |  | — |  | (500,368 | ) | — |  | (500,368 | )
Proceeds from sales of assets and insurance claims |  | — |  | — |  | 29,731 |  | — |  | 29,731 |
Other |  | — |  | — |  | (3,142 | ) | — |  | (3,142 | )
Cash paid for investments in consolidated affiliates |  | — |  | (626,000 | ) | (1,252,000 | ) | 1,878,000 |  | — |
Changes in intercompany balances |  | — |  | 348,367 |  | (348,367 | ) | — |  | — |
Net cash provided by (used for) investing activities |  | — |  | (277,633 | ) | (1,942,428 | ) | 1,878,000 |  | (342,061 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Increase (decrease) in cash overdrafts |  | — |  | — |  | (8,686 | ) | — |  | (8,686 | )
Dividends to shareholders |  | (25,825 | ) | — |  | — |  | 2,273 |  | (23,552 | )
Proceeds from debt |  | — |  | — |  | 11,569 |  | — |  | 11,569 |
Debt issuance costs |  | — |  | (87 | ) | — |  | — |  | (87 | )
Proceeds from (payments for) commercial paper, net |  | — |  | 295,000 |  | — |  | — |  | 295,000 |
Proceeds from (payments for) issuance of common shares |  | 3,200 |  | — |  | — |  | — |  | 3,200 |
Proceeds from parent contributions |  | — |  | 626,000 |  | 1,252,000 |  | (1,878,000 | ) | — |
Proceeds from (payments for) issuance of parent common shares to affiliate |  | 32,072 |  | — |  | — |  | (32,072 | ) | — |
Reduction in long-term debt |  | — |  | — |  | (17,853 | ) | — |  | (17,853 | )
Reduction in revolving credit facility |  | — |  | (590,000 | ) | — |  | — |  | (590,000 | )
Purchase of restricted stock |  | (3,023 | ) | — |  | — |  | — |  | (3,023 | )
Net cash (used for) provided by financing activities |  | 6,424 |  | 330,913 |  | 1,237,030 |  | (1,907,799 | ) | (333,432 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | (6,709 | ) | — |  | (6,709 | )
Net increase (decrease) in cash and cash equivalents |  | 1,870 |  | (94,000 | ) | 75,336 |  | — |  | (16,794 | )
Cash and cash equivalents, beginning of period |  | 1,639 |  | 106,778 |  | 416,505 |  | — |  | 524,922 |
Cash and cash equivalents, end of period |  | $ | 3,509 |  | $ | 12,778 |  | $ | 491,841 |  | $ | — |  | $ | 508,128 |
|  | Six Months Ended June 30, 2012 |
|  |  |  |  |  | Other |  |  |  |  |
|  | Nabors |  | Nabors |  | Subsidiaries |  |  |  |  |
|  | (Parent/ |  | Delaware |  | (Non- |  | Consolidating |  |  |
|  | Guarantor) |  | (Issuer) |  | Guarantors) |  | Adjustments |  | Total |
|  | (In thousands) |
Net cash provided by (used for) operating activities |  | $ | 7,762 |  | $ | (55,008 | ) | $ | 771,683 |  | $ | (12,500 | ) | $ | 711,937 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchases of investments |  | — |  | — |  | (795 | ) | — |  | (795 | )
Sales and maturities of investments |  | — |  | — |  | 25,517 |  | — |  | 25,517 |
Capital expenditures |  | — |  | — |  | (967,861 | ) | — |  | (967,861 | )
Proceeds from sales of assets and insurance claims |  | — |  | — |  | 116,923 |  | — |  | 116,923 |
Cash paid for investments in consolidated affiliates |  | — |  | — |  | — |  | — |  | — |
Changes in intercompany balances |  | — |  | (38,067 | ) | 38,067 |  | — |  | — |
Net cash provided by (used for) investing activities |  | — |  | (38,067 | ) | (788,149 | ) | — |  | (826,216 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Increase (decrease) in cash overdrafts |  | — |  | — |  | (2,060 | ) | — |  | (2,060 | )
Proceeds from revolving credit facility |  | — |  | 200,000 |  | — |  | — |  | 200,000 |
Proceeds from (payments for) issuance of common shares |  | (5,066 | ) | — |  | — |  | — |  | (5,066 | )
Proceeds from parent contributions |  | — |  | — |  | (12,500 | ) | 12,500 |  | — |
Debt issuance costs |  | — |  | — |  | (1,235 | ) | — |  | (1,235 | )
Reduction in long-term debt |  | — |  | — |  |  |  | — |  | — |
Paydown of revolving credit facility |  | — |  | (100,000 | ) | (50,000 | ) | — |  | (150,000 | )
Purchase of restricted stock |  | (2,071 | ) | — |  | — |  | — |  | (2,071 | )
Tax benefit related to share-based awards |  | — |  | — |  | (36 | ) | — |  | (36 | )
Net cash (used for) provided by financing activities |  | (7,137 | ) | 100,000 |  | (65,831 | ) | 12,500 |  | 39,532 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | (3,430 | ) | — |  | (3,430 | )
Net increase (decrease) in cash and cash equivalents |  | 625 |  | 6,925 |  | (85,727 | ) | — |  | (78,177 | )
Cash and cash equivalents, beginning of period |  | 203 |  | 21 |  | 398,351 |  | — |  | 398,575 |
Cash and cash equivalents, end of period |  | $ | 828 |  | $ | 6,946 |  | $ | 312,624 |  | $ | — |  | $ | 320,398 |

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- Definition Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e526-108580 + Details
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