v2.4.0.8

Revision of Prior Period Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2013
Revision of Prior Period Financial Statements |
Schedule of effect on consolidated statements of income (loss) |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |
(In thousands, except per share amounts) |  | As Reported(1) |  | Adjustment |  | Revised |  | As Reported(1) |  | Adjustment |  | Revised |
Earnings (losses) from unconsolidated affiliates |  | $ | (301,320 | ) | $ | 12,602 |  | $ | (288,718 | ) | $ | 56,647 |  | $ | 28,801 |  | $ | 85,448 |
Total revenues and other income |  |  | 6,604,868 |  |  | 12,602 |  |  | 6,617,470 |  |  | 6,090,066 |  |  | 28,801 |  |  | 6,118,867 |
Direct costs |  |  | 4,368,702 |  |  | (1,596 | ) |  | 4,367,106 |  |  | 3,736,910 |  |  | 1,596 |  |  | 3,738,506 |
Total costs and other deductions |  |  | 6,342,106 |  |  | (1,596 | ) |  | 6,340,510 |  |  | 5,602,018 |  |  | 1,596 |  |  | 5,603,614 |
Income (loss) from continuing operations before income taxes |  |  | 262,762 |  |  | 14,198 |  |  | 276,960 |  |  | 488,048 |  |  | 27,205 |  |  | 515,253 |
Deferred income tax expense (benefit) |  |  | (115,413 | ) |  | 13,405 |  |  | (102,008 | ) |  | 33,021 |  |  | 22,360 |  |  | 55,381 |
Income tax expense (benefit) |  |  | 27,581 |  |  | 13,405 |  |  | 40,986 |  |  | 142,723 |  |  | 22,360 |  |  | 165,083 |
Income (loss) from continuing operations, net of tax |  |  | 232,181 |  |  | 793 |  |  | 232,974 |  |  | 342,325 |  |  | 4,845 |  |  | 347,170 |
Net income (loss) |  |  | 164,655 |  |  | 793 |  |  | 165,448 |  |  | 244,724 |  |  | 4,845 |  |  | 249,569 |
Net income (loss) attributable to Nabors |  |  | 164,034 |  |  | 793 |  |  | 164,827 |  |  | 243,679 |  |  | 4,845 |  |  | 248,524 |
Earnings (losses) per share:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic from continuing operations |  | $ | 0.80 |  | $ | — |  | $ | 0.80 |  | $ | 1.19 |  | $ | 0.02 |  | $ | 1.21 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Basic |  | $ | 0.57 |  | $ | — |  | $ | 0.57 |  | $ | 0.85 |  | $ | 0.02 |  | $ | 0.87 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted from continuing operations |  | $ | 0.79 |  | $ | — |  | $ | 0.79 |  | $ | 1.17 |  | $ | 0.02 |  | $ | 1.18 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Diluted |  | $ | 0.56 |  | $ | — |  | $ | 0.56 |  | $ | 0.83 |  | $ | 0.02 |  | $ | 0.85 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Amounts reflect the retrospective reclassification of the results of Peak as discontinued operations. Refer to Note 5—Assets Held for Sale and Discontinued Operations for additional information. (2) Earnings per share is computed independently for each of the columns presented. Therefore, the sum of the earnings per share may not equal the total revised.
Schedule of effect on consolidated statements of other comprehensive income (loss) |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |
(In thousands) |  | As Reported |  | Adjustment |  | Revised |  | As Reported |  | Adjustment |  | Revised |
Net income (loss) attributable to Nabors |  | $ | 164,034 |  | $ | 793 |  | $ | 164,827 |  | $ | 243,679 |  | $ | 4,845 |  | $ | 248,524 |
Comprehensive income (loss) attributable to Nabors |  |  | 274,365 |  |  | 793 |  |  | 275,158 |  |  | 222,891 |  |  | 4,845 |  |  | 227,736 |
Comprehensive income (loss) |  |  | 275,297 |  |  | 793 |  |  | 276,090 |  |  | 223,751 |  |  | 4,845 |  |  | 228,596 |
Schedule of effect on consolidated statements of cash flow |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |
(In thousands) |  | As Reported |  | Adjustment |  | Revised |  | As Reported |  | Adjustment |  | Revised |
Net income (loss) attributable to Nabors |  | $ | 164,034 |  | $ | 793 |  | $ | 164,827 |  | $ | 243,679 |  | $ | 4,845 |  | $ | 248,524 |
Deferred income tax expense (benefit) |  |  | (145,147 | ) |  | 13,405 |  |  | (131,742 | ) |  | (34,739 | ) |  | 22,360 |  |  | (12,379 | )
Equity in (earnings) losses of unconsolidated affiliates, net of dividends |  |  | 312,319 |  |  | (12,602 | ) |  | 299,717 |  |  | (132,388 | ) |  | (28,801 | ) |  | (161,189 | )
Trade accounts payable and accrued liabilities |  |  | (223,199 | ) |  | (1,596 | ) |  | (224,795 | ) |  | 517,615 |  |  | 1,596 |  |  | 519,211 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by operating activities |  |  | 1,562,705 |  |  | — |  |  | 1,562,705 |  |  | 1,456,487 |  |  | — |  |  | 1,456,487 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of effect on consolidated statements of changes in equity |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |
(In thousands) |  | As Reported |  | Adjustment |  | Revised |  | As Reported |  | Adjustment |  | Revised |
Retained earnings |  | $ | 3,956,364 |  | $ | (793 | ) | $ | 3,955,571 |  | $ | 3,707,881 |  | $ | (5,638 | ) | $ | 3,702,243 |
Total equity |  |  | 5,601,217 |  |  | (793 | ) |  | 5,600,424 |  |  | 5,342,863 |  |  | (5,638 | ) |  | 5,337,225 |

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