XML 81 R27.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2019
Segment Information |
Segment Information | Note 19 Segment Information ​ Our business consists of five reportable segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies. The accounting policies of the segments are the same as those described in Note 2—Summary of Significant Accounting Policies. Inter-segment sales are recorded at cost or cost plus a profit margin. We evaluate the performance of our segments based on several criteria, including adjusted operating income (loss). ​ The following table sets forth financial information with respect to our reportable operating segments: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year Ended December 31, |
​ | ​ | ​ | ​ | 2019 |  | 2018 |  | 2017 |
​ | ​ |  |  | (In thousands) | ​
Operating revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | ​ | $ | 1,240,936 | ​ | $ | 1,083,227 | ​ | $ | 805,223 | ​
Canada Drilling | ​ | ​ | ​ |  | 68,274 | ​ |  | 105,000 | ​ |  | 82,929 | ​
International Drilling | ​ | ​ | ​ |  | 1,324,142 | ​ |  | 1,469,038 | ​ |  | 1,474,060 | ​
Drilling Solutions | ​ | ​ | ​ |  | 252,790 | ​ |  | 250,242 | ​ |  | 140,701 | ​
Rig Technologies | ​ | ​ | ​ |  | 260,226 | ​ |  | 270,988 | ​ |  | 234,542 | ​
Other reconciling items (1) | ​ | ​ | ​ |  | (102,985) | ​ |  | (120,876) | ​ |  | (173,170) | ​
Total | ​ | ​ | ​ | $ | 3,043,383 | ​ | $ | 3,057,619 | ​ | $ | 2,564,285 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year Ended December 31, |
​ | ​ | ​ | ​ | 2019 |  | 2018 |  | 2017 |
​ | ​ |  |  | (In thousands) |
Adjusted operating income (loss): (2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | ​ | $ | 64,313 | ​ | $ | (21,298) | ​ | $ | (213,877) | ​
Canada Drilling | ​ | ​ | ​ |  | (14,483) | ​ |  | (6,166) | ​ |  | (22,262) | ​
International Drilling | ​ | ​ | ​ |  | (8,903) | ​ |  | 74,221 | ​ |  | 108,428 | ​
Drilling Solutions | ​ | ​ | ​ |  | 59,465 | ​ |  | 37,626 | ​ |  | 16,738 | ​
Rig Technologies | ​ | ​ | ​ |  | (11,247) | ​ |  | (25,762) | ​ |  | (30,964) | ​
Total segment adjusted operating income (loss) | ​ | ​ | ​ | $ | 89,145 | ​ | $ | 58,621 | ​ | $ | (141,937) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year Ended December 31, |
​ | ​ | ​ | ​ | 2019 |  | 2018 |  | 2017 |
​ | ​ |  |  | (In thousands) |
Reconciliation of segment adjusted operating income (loss) to net income (loss) from continuing operations before income taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total segment adjusted operating income (loss) (2) | ​ | ​ | ​ | $ | 89,145 | ​ | $ | 58,621 | ​ | $ | (141,937) | ​
Other reconciling items (3) | ​ | ​ | ​ |  | (160,274) | ​ |  | (166,815) | ​ |  | (157,043) | ​
Earnings (losses) from unconsolidated affiliates | ​ | ​ | ​ | ​ | (5) | ​ | ​ | 1 | ​ | ​ | 7 | ​
Investment income (loss) | ​ | ​ | ​ |  | 10,218 | ​ | ​ | (9,499) | ​ | ​ | 1,194 | ​
Interest expense | ​ | ​ | ​ | ​ | (204,311) | ​ | ​ | (227,124) | ​ | ​ | (222,889) | ​
Impairments and other charges | ​ | ​ | ​ | ​ | (290,471) | ​ | ​ | (144,446) | ​ | ​ | (44,536) | ​
Other, net | ​ | ​ | ​ | ​ | (33,224) | ​ | ​ | (29,532) | ​ | ​ | (14,880) | ​
Income (loss) from continuing operations before income taxes | ​ | ​ | ​ | $ | (588,922) | ​ | $ | (518,794) | ​ | $ | (580,084) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2019 |  | 2018 |  | 2017 |
​ | ​ | (In thousands) |
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | $ | 419,680 | ​ | $ | 394,586 | ​ | $ | 375,171 | ​
Canada Drilling | ​ |  | 29,766 | ​ |  | 37,172 | ​ |  | 39,597 | ​
International Drilling | ​ |  | 372,883 | ​ |  | 383,227 | ​ |  | 400,753 | ​
Drilling Solutions | ​ |  | 32,289 | ​ |  | 31,037 | ​ |  | 16,188 | ​
Rig Technologies | ​ |  | 12,715 | ​ |  | 16,387 | ​ |  | 11,530 | ​
Other reconciling items (3) | ​ |  | 8,758 | ​ |  | 4,461 | ​ |  | (296) | ​
Total | ​ | $ | 876,091 | ​ | $ | 866,870 | ​ | $ | 842,943 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2019 |  | 2018 |  | 2017 |
​ | ​ | (In thousands) |
Capital expenditures: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | $ | 184,705 | ​ | $ | 222,338 | ​ | $ | 330,875 | ​
Canada Drilling | ​ |  | 5,020 | ​ |  | 12,981 | ​ |  | 17,197 | ​
International Drilling | ​ |  | 209,728 | ​ |  | 172,565 | ​ |  | 159,817 | ​
Drilling Solutions | ​ |  | 23,598 | ​ |  | 30,709 | ​ |  | 35,617 | ​
Rig Technologies | ​ |  | 6,592 | ​ |  | 12,250 | ​ |  | 4,715 | ​
Other reconciling items (3) | ​ |  | (5,676) | ​ |  | 2,592 | ​ |  | (9,030) | ​
Total | ​ | $ | 423,967 | ​ | $ | 453,435 | ​ | $ | 539,191 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |
​ |  | 2019 |  | 2018 |
​ | ​ | (In thousands) |
Total assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | $ | 2,369,200 | ​ | $ | 2,982,974 | ​
Canada Drilling | ​ |  | 202,706 | ​ |  | 252,817 | ​
International Drilling | ​ |  | 2,979,494 | ​ |  | 3,320,347 | ​
Drilling Solutions | ​ |  | 218,004 | ​ |  | 281,078 | ​
Rig Technologies | ​ |  | 324,523 | ​ |  | 401,044 | ​
Other reconciling items (3) | ​ |  | 666,731 | ​ |  | 615,684 | ​
Total | ​ | $ | 6,760,658 | ​ | $ | 7,853,944 | ​
(1) | Represents the elimination of inter-segment transactions.
​
(2) | Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss), impairments and other charges and other, net. Management evaluates the performance of our operating segments using adjusted operating income (loss), which is a segment performance measure, because it believes that this financial measure reflects our ongoing profitability and performance. In addition, securities analysts and investors use this measure as one of the metrics on which they analyze our performance. A reconciliation to income (loss) from continuing operations before income taxes is provided in the above table.
​
(3) | Represents the elimination of inter-segment transactions and unallocated corporate expenses, assets and capital expenditures.
​ The following table sets forth financial information with respect to Nabors’ operations by geographic area based on the location of service provided: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2019 |  | 2018 |  | 2017 |
​ | ​ | (In thousands) |
Operating revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | $ | 1,554,442 | ​ | $ | 1,347,448 | ​ | $ | 973,464 | ​
Outside the U.S. | ​ |  | 1,488,941 | ​ |  | 1,710,171 | ​ |  | 1,590,821 | ​
​ | ​ | $ | 3,043,383 | ​ | $ | 3,057,619 | ​ | $ | 2,564,285 | ​
Property, plant and equipment, net: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | $ | 2,470,579 | ​ | $ | 2,892,910 | ​ | $ | 3,163,425 | ​
Outside the U.S. | ​ |  | 2,459,970 | ​ |  | 2,574,960 | ​ |  | 2,946,140 | ​
​ | ​ | $ | 4,930,549 | ​ | $ | 5,467,870 | ​ | $ | 6,109,565 | ​
Goodwill: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ | $ | 13,430 | ​ | $ | 65,633 | ​ | $ | 54,198 | ​
Outside the U.S. | ​ |  | 14,950 | ​ |  | 118,281 | ​ |  | 119,028 | ​
​ | ​ | $ | 28,380 | ​ | $ | 183,914 | ​ | $ | 173,226 | ​
​ During the years ended December 31, 2019, 2018 and 2017, $696.4 million, $764.5 million and $727.7 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. ​ One customer accounted for approximately 22%, 24% and 29% of our consolidated operating revenues during the years ended December 31, 2019, 2018 and 2017, respectively, and is included primarily in our International Drilling reportable segment.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration