v2.4.0.8

Revision of Prior Period Financial Statements (Tables)

12 Months Ended

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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