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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Information |
Financial information with respect to operating segments |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Operating revenues and Earnings (losses) from unconsolidated affiliates:(1) |  |  |  |  |  |  |  |  |  |
Drilling & Rig Services: |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,159,968 |  | $ | 1,914,786 |  | $ | 2,276,808 |
Canada |  |  | 335,192 |  |  | 361,676 |  |  | 429,411 |
International |  |  | 1,623,102 |  |  | 1,464,264 |  |  | 1,265,060 |
Rig Services(2) |  |  | 687,302 |  |  | 516,004 |  |  | 688,310 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal drilling and rig services(3) |  |  | 4,805,564 |  |  | 4,256,730 |  |  | 4,659,589 |
Completion & Production Services: |  |  |  |  |  |  |  |  |  |
Completion Services |  |  | 1,218,361 |  |  | 1,074,713 |  |  | 1,462,767 |
Production Services |  |  | 1,033,538 |  |  | 1,009,214 |  |  | 1,000,873 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal completion and production services(4) |  |  | 2,251,899 |  |  | 2,083,927 |  |  | 2,463,640 |
Other reconciling items(5) |  |  | (259,567 | ) |  | (188,603 | ) |  | (568,896 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 6,797,896 |  | $ | 6,152,054 |  | $ | 6,554,333 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted income (loss) derived from operating activities:(1)(6) |  |  |  |  |  |  |  |  |  |
Drilling & Rig Services: |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 370,173 |  |  | 315,496 |  |  | 509,894 |
Canada |  |  | 52,468 |  |  | 61,193 |  |  | 91,360 |
International |  |  | 242,818 |  |  | 177,833 |  |  | 91,226 |
Rig Services(2) |  |  | 47,768 |  |  | (3,918 | ) |  | 67,366 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal drilling and rig services(3) |  |  | 713,227 |  |  | 550,604 |  |  | 759,846 |
Completion & Production Services: |  |  |  |  |  |  |  |  |  |
Completion Services |  |  | (15,078 | ) |  | 51,722 |  |  | 188,518 |
Production Services |  |  | 93,414 |  |  | 102,130 |  |  | 108,835 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal completion and production services(4) |  |  | 78,336 |  |  | 153,852 |  |  | 297,353 |
Other reconciling items(7) |  |  | (193,565 | ) |  | (146,237 | ) |  | (148,649 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total adjusted income (loss) derived from operating activities |  |  | 597,998 |  |  | 558,219 |  |  | 908,550 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. oil and gas joint venture earnings (losses) |  |  | — |  |  | — |  |  | (289,199 | )
Interest expense |  |  | (177,948 | ) |  | (223,418 | ) |  | (251,904 | )
Investment income (loss) |  |  | 11,831 |  |  | 96,577 |  |  | 63,137 |
Gains (losses) on sales and disposals of long-lived assets and other income (expense), net |  |  | (9,073 | ) |  | (37,977 | ) |  | 136,636 |
Impairments and other charges |  |  | (1,027,423 | ) |  | (287,241 | ) |  | (290,260 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) from continuing operations before income taxes |  |  | (604,615 | ) |  | 106,160 |  |  | 276,960 |
Income tax expense (benefit) |  |  | 62,666 |  |  | (55,181 | ) |  | 40,986 |
Subsidiary preferred stock dividend |  |  | 1,984 |  |  | 3,000 |  |  | 3,000 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) from continuing operations, net of tax |  |  | (669,265 | ) |  | 158,341 |  |  | 232,974 |
Income (loss) from discontinued operations, net of tax |  |  | 21 |  |  | (11,179 | ) |  | (67,526 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) |  |  | (669,244 | ) |  | 147,162 |  |  | 165,448 |
Less: Net (income) loss attributable to noncontrolling interest |  |  | (1,415 | ) |  | (7,180 | ) |  | (621 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) attributable to Nabors |  | $ | (670,659 | ) | $ | 139,982 |  | $ | 164,827 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Depreciation and amortization(1) |  |  |  |  |  |  |  |  |  |
Drilling & Rig Services: |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 465,506 |  |  | 440,210 |  |  | 406,740 |
Canada |  |  | 55,986 |  |  | 57,796 |  |  | 59,191 |
International |  |  | 367,345 |  |  | 346,659 |  |  | 330,388 |
Rig Services(2) |  |  | 33,559 |  |  | 32,029 |  |  | 29,617 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal drilling and rig services |  |  | 922,396 |  |  | 876,694 |  |  | 825,936 |
Completion & Production Services: |  |  |  |  |  |  |  |  |  |
Completion Services |  |  | 109,917 |  |  | 109,242 |  |  | 112,401 |
Production Services |  |  | 114,505 |  |  | 103,502 |  |  | 104,201 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal completion and production services |  |  | 224,422 |  |  | 212,744 |  |  | 216,602 |
Other reconciling items(7) |  |  | (1,718 | ) |  | (2,761 | ) |  | (2,615 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total depreciation and amortization |  | $ | 1,145,100 |  | $ | 1,086,677 |  | $ | 1,039,923 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Capital expenditures and acquisitions of businesses:(9) |  |  |  |  |  |  |  |  |  |
Drilling & Rig Services: |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 839,536 |  |  | 644,792 |  |  | 758,555 |
Canada |  |  | 49,317 |  |  | 59,386 |  |  | 78,729 |
International |  |  | 788,748 |  |  | 248,980 |  |  | 265,249 |
Rig Services(2) |  |  | 103,491 |  |  | 70,831 |  |  | 39,923 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal drilling and rig services |  |  | 1,781,092 |  |  | 1,023,989 |  |  | 1,142,456 |
Completion & Production Services(8) |  |  | 156,106 |  |  | 325,449 |  |  | 238,300 |
Other reconciling items(7) |  |  | (13,419 | ) |  | 16,556 |  |  | 52,830 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total capital expenditures and acquisitions of businesses |  | $ | 1,923,779 |  | $ | 1,365,994 |  | $ | 1,433,586 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |
|  | (In thousands) |
Total assets: |  |  |  |  |  |  |
Drilling & Rig Services: |  |  |  |  |  |  |
U.S. |  |  | 4,184,854 |  |  | 4,248,630 |
Canada |  |  | 615,269 |  |  | 608,018 |
International |  |  | 3,815,051 |  |  | 3,584,339 |
Rig Services |  |  | 549,622 |  |  | 474,275 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal drilling and rig services(10) |  |  | 9,164,796 |  |  | 8,915,262 |
Completion & Production Services(8)(11) |  |  | 1,933,387 |  |  | 2,394,865 |
Other reconciling items(7)(12) |  |  | 781,759 |  |  | 849,684 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets |  | $ | 11,879,942 |  | $ | 12,159,811 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | All periods present the operating activities of most of our wholly owned oil and gas businesses, our previously held equity interests in oil and gas joint ventures in Canada and Colombia, aircraft logistics operations and construction services as discontinued operations.
(2) | Includes our other services comprised of our drilling technology and top drive manufacturing, directional drilling, rig instrumentation and software services.
(3) | Includes earnings (losses), net from unconsolidated affiliates, accounted for using the equity method, of ($6.8) million and ($0.4) million for the years ended December 31, 2014 and 2013, respectively.
(4) | Includes earnings (losses), net from unconsolidated affiliates, accounted for using the equity method, of $0.5 million, $0.4 million and $0.5 million for the years ended December 31, 2014, 2013 and 2012, respectively.
(5) | Represents the elimination of inter-segment transactions and earnings (losses), net from the U.S. unconsolidated oil and gas joint venture, accounted for using the equity method until sold in December 2012, of ($289.2) million for the year ended December 31, 2012.
(6) | Adjusted income (loss) derived from operating activities is computed by subtracting the sum of direct costs, general and administrative expenses, depreciation and amortization from the sum of Operating revenues and Earnings (losses) from unconsolidated affiliates. Adjusted income is a non-GAAP measure and should not be used in isolation as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of our business units and the consolidated company based on several criteria, including adjusted income (loss) derived from operating activities, because it believes that these financial measures accurately reflect our ongoing profitability. A reconciliation of this non-GAAP measure to income (loss) from continuing operations before income taxes, which is a GAAP measure, is provided in the above table.
(7) | Represents the elimination of inter-segment transactions and unallocated corporate expenses, assets and capital expenditures.
(8) | Reflects assets allocated to the line of business to conduct its operations. Further allocation to individual operating segments of Completion & Production Services is not available.
(9) | Includes the total purchase price of acquisitions.
(10) | Includes $48.1 million and $57.0 million of investments in unconsolidated affiliates accounted for using the equity method as of December 31, 2014 and 2013, respectively.
(11) | Includes $10.2 million and $7.4 million of investments in unconsolidated affiliates accounted for using the equity method as of December 31, 2014 and 2013, respectively.
(12) | Includes assets of $146.5 million and $239.9 million from oil and gas businesses classified as assets held-for-sale as of December 31, 2014 and 2013, respectively.
Schedule of financial information with respect to Nabors' operations by geographic area |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Operating revenues and Earnings (losses) from unconsolidated affiliates: |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 4,695,977 |  | $ | 4,146,125 |  | $ | 4,625,614 |
Outside the U.S. |  |  | 2,101,919 |  |  | 2,005,929 |  |  | 1,928,719 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 6,797,896 |  | $ | 6,152,054 |  | $ | 6,554,333 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 5,205,296 |  | $ | 5,474,746 |  | $ | 5,179,578 |
Outside the U.S. |  |  | 3,393,829 |  |  | 3,123,067 |  |  | 3,532,510 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 8,599,125 |  | $ | 8,597,813 |  | $ | 8,712,088 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill: |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 146,310 |  | $ | 498,149 |  | $ | 456,463 |
Outside the U.S. |  |  | 27,618 |  |  | 14,815 |  |  | 15,863 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 173,928 |  | $ | 512,964 |  | $ | 472,326 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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